Thinking About Selling? Here’s Why Your Home Equity Could Be Your Secret Weapon

Thinking About Selling? Here’s Why Your Home Equity Could Be Your Secret Weapon

If you're considering selling your home, the first step is understanding just how much equity you’ve built up over the years. With home prices soaring in recent years, (especially here in Central Virginia!) you might be sitting on more equity than you realize—and that’s a game changer when it comes to planning your next move.

What Exactly Is Home Equity, and How Much Do You Have?

Home equity is simply the difference between your home’s current market value and what you still owe on your mortgage. For example, if your home is worth $400,000 and you’ve paid your mortgage down to $200,000, your equity would be $200,000. It’s like a financial cushion you’ve built up just by owning your home.

Recent reports from the Census and ATTOM reveal that most Americans are in a strong equity position right now. In fact, over two-thirds of homeowners either have their mortgages fully paid off (as shown in green on the chart) or own at least 50% of their home’s value outright (as shown in blue).

This means that when you decide to sell, you could be looking at a substantial return on your investment—money that can power your next adventure, whether that’s buying a new home or investing in something else.

So, What’s Your Next Move?

If selling is on your mind, knowing how much equity you have is key to understanding what your home sale could mean for your financial future. The best way to get a crystal-clear picture is to team up with your real estate agent and also consult with a tax professional or financial advisor. Together, they’ll help you navigate your unique situation and make the best possible decisions for your next steps.

Bottom Line

With home prices on the rise, your equity is likely growing too. Let’s connect so you can find out exactly how much equity you’ve built and move forward with confidence when you’re ready to sell.

My Best,