What home equity is and why it matters

Posted On Wednesday, 06 December 2017 11:22
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  • State: Alabama
  • SOLD: 2
  • Old Article Id: 1007560
 
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How to Calculate Home Equity
You already know a home is an important investment, yet did you know the equity you have in your home can be used as a factor in determining the right time to sell? 

In the simplest terms, equity is the difference between the market value of your home and how much you owe on your mortgage. Your down payment actually marked your first stake of equity in your home. As you pay down your mortgage, your equity in your home continues to increase. Other factors that can increase your home equity include improvements on your house or your local market appreciating over time.

By familiarizing yourself with the equity you have in your home, along with the economic conditions of our local market, you will gain insight into when might be the right opportunity to make your next move.

When you're ready to buy, sell or invest in real estate, you need trusted local experts. Call us today to arrange a personalized consultation.
 
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Ryan Hardin REALTOR®/BROKER SRES

Keller Williams Realty Integrity NW
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Copyright 2017 Keller Williams® Realty, Inc. If you have a brokerage relationship with another agency, this is not intended as a solicitation. All information deemed reliable but not guaranteed. Equal Opportunity Housing Provider. Each office is independently owned and operated. 
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