Maximizing the Benefits of Home Equity When Selling Your House

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The equity you build up as a homeowner is a valuable asset that can be utilized when you sell your home. However, it’s important to understand what equity is and how it grows before using it. In simple terms, equity is the appraised value of your home minus any outstanding mortgage and loan balances.

According to data from the U.S. Census Bureau and ATTOM, a majority of Americans have a substantial amount of equity in their homes. This provides financial security for families and helps prevent housing market crashes like the one in 2008.

As you continue to pay off your mortgage and own your home, your equity grows over time. When it’s time to sell, you can use that money to purchase your next home.

Selling your home and leveraging your equity can make it easier to pay for your next home. If you’re interested in finding out how much equity you have and planning your next move, reach out to a professional today.

Maximize Your Home’s Value – Schedule a Free Consultation Now!

Dowell Family Team
Author: Dowell Family Team

Berkshire Hathaway HomeServices Kansas City Realty team serving the residential needs if Kansas Citian’s including Olathe, Overland Park, Gardner, Spring Hill, Leawood, Lenexa, Shawnee and surrounding Johnson County cities.

Author: Dowell Family Team

Berkshire Hathaway HomeServices Kansas City Realty team serving the residential needs if Kansas Citian’s including Olathe, Overland Park, Gardner, Spring Hill, Leawood, Lenexa, Shawnee and surrounding Johnson County cities.

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