Using Equity to Fuel Your Next Purchase
Want to help fuel your next purchase?
Ryan Haley, broker and owner of Atlantic Shores Sotheby’s International Realty, shares a tip that you could use.
Record-breaking equity in this country has been a huge driver in helping buyers fuel their next purchase. Here is how this is made possible.
But first off, what is equity?
Equity is the value that you have in your home over and above what you currently own on the home. Over the course of the last 12 months, equity in this country has increased, on average, by over $64,000.
So, if you owe a $100,000 on your home, but the value of the home today is $200,000, you then have $100,000 worth of equity. With that, when you sell your home, you could take the equity—which is now the $100,000—to put down on the purchase of the next home.
You may be surprised as to how much equity you actually have in your home.
We'd be happy to give you an equity checkup to determine that amount which then could help fuel your next purchase.