If you’re a homeowner, odds are your equity has grown significantly over the last few years as home prices skyrocketed and you made your monthly mortgage payments.
Home equity builds over time and can help you achieve certain goals.
Here’s 3 ways you can use your home equity:
1. Buy a Home That Fits Your Needs
𝙄𝙛 𝙮𝙤𝙪 𝙣𝙤 𝙡𝙤𝙣𝙜𝙚𝙧 𝙝𝙖𝙫𝙚 𝙩𝙝𝙚 𝙨𝙥𝙖𝙘𝙚 𝙮𝙤𝙪 𝙣𝙚𝙚𝙙, 𝙞𝙩 𝙢𝙞𝙜𝙝𝙩 𝙗𝙚 𝙩𝙞𝙢𝙚 𝙩𝙤 𝙢𝙤𝙫𝙚 𝙞𝙣𝙩𝙤 𝙖 𝙡𝙖𝙧𝙜𝙚𝙧 𝙝𝙤𝙢𝙚. 𝙊𝙧 𝙞𝙩’𝙨 𝙥𝙤𝙨𝙨𝙞𝙗𝙡𝙚 𝙮𝙤𝙪 𝙝𝙖𝙫𝙚 𝙩𝙤𝙤 𝙢𝙪𝙘𝙝 𝙨𝙥𝙖𝙘𝙚 𝙖𝙣𝙙 𝙣𝙚𝙚𝙙 𝙨𝙤𝙢𝙚𝙩𝙝𝙞𝙣𝙜 𝙨𝙢𝙖𝙡𝙡𝙚𝙧. 𝙉𝙤 𝙢𝙖𝙩𝙩𝙚𝙧 𝙩𝙝𝙚 𝙨𝙞𝙩𝙪𝙖𝙩𝙞𝙤𝙣, 𝙘𝙤𝙣𝙨𝙞𝙙𝙚𝙧 𝙪𝙨𝙞𝙣𝙜 𝙮𝙤𝙪𝙧 𝙚𝙦𝙪𝙞𝙩𝙮 𝙩𝙤 𝙥𝙤𝙬𝙚𝙧 𝙖 𝙢𝙤𝙫𝙚 𝙞𝙣𝙩𝙤 𝙖 𝙝𝙤𝙢𝙚 𝙩𝙝𝙖𝙩 𝙛𝙞𝙩𝙨 𝙮𝙤𝙪𝙧 𝙘𝙝𝙖𝙣𝙜𝙞𝙣𝙜 𝙡𝙞𝙛𝙚𝙨𝙩𝙮𝙡𝙚.
2. Reinvest in Your Current House
𝘼𝙘𝙘𝙤𝙧𝙙𝙞𝙣𝙜 𝙩𝙤 𝙖 𝙧𝙚𝙘𝙚𝙣𝙩 𝙨𝙪𝙧𝙫𝙚𝙮 𝙛𝙧𝙤𝙢 𝙋𝙤𝙞𝙣𝙩, 39% 𝙤𝙛 𝙝𝙤𝙢𝙚𝙤𝙬𝙣𝙚𝙧𝙨 𝙬𝙤𝙪𝙡𝙙 𝙞𝙣𝙫𝙚𝙨𝙩 𝙞𝙣 𝙝𝙤𝙢𝙚 𝙞𝙢𝙥𝙧𝙤𝙫𝙚𝙢𝙚𝙣𝙩 𝙥𝙧𝙤𝙟𝙚𝙘𝙩𝙨 𝙞𝙛 𝙩𝙝𝙚𝙮 𝙘𝙝𝙤𝙨𝙚 𝙩𝙤 𝙖𝙘𝙘𝙚𝙨𝙨 𝙩𝙝𝙚𝙞𝙧 𝙚𝙦𝙪𝙞𝙩𝙮. 𝙏𝙝𝙞𝙨 𝙞𝙨 𝙖 𝙜𝙧𝙚𝙖𝙩 𝙤𝙥𝙩𝙞𝙤𝙣 𝙞𝙛 𝙮𝙤𝙪 𝙬𝙖𝙣𝙩 𝙩𝙤 𝙘𝙝𝙖𝙣𝙜𝙚 𝙨𝙤𝙢𝙚 𝙩𝙝𝙞𝙣𝙜𝙨 𝙖𝙗𝙤𝙪𝙩 𝙮𝙤𝙪𝙧 𝙡𝙞𝙫𝙞𝙣𝙜 𝙨𝙥𝙖𝙘𝙚 𝙗𝙪𝙩 𝙮𝙤𝙪 𝙖𝙧𝙚𝙣’𝙩 𝙧𝙚𝙖𝙙𝙮 𝙩𝙤 𝙢𝙖𝙠𝙚 𝙖 𝙢𝙤𝙫𝙚 𝙟𝙪𝙨𝙩 𝙮𝙚𝙩.
3. Pursue Your Personal Goals
𝙄𝙣 𝙖𝙙𝙙𝙞𝙩𝙞𝙤𝙣 𝙩𝙤 𝙢𝙖𝙠𝙞𝙣𝙜 𝙖 𝙢𝙤𝙫𝙚 𝙤𝙧 𝙪𝙥𝙙𝙖𝙩𝙞𝙣𝙜 𝙮𝙤𝙪𝙧 𝙝𝙤𝙪𝙨𝙚, 𝙝𝙤𝙢𝙚 𝙚𝙦𝙪𝙞𝙩𝙮 𝙘𝙖𝙣 𝙖𝙡𝙨𝙤 𝙝𝙚𝙡𝙥 𝙮𝙤𝙪 𝙖𝙘𝙝𝙞𝙚𝙫𝙚 𝙩𝙝𝙚 𝙡𝙞𝙛𝙚 𝙜𝙤𝙖𝙡𝙨 𝙮𝙤𝙪’𝙫𝙚 𝙙𝙧𝙚𝙖𝙢𝙚𝙙 𝙤𝙛. 𝙏𝙝𝙖𝙩 𝙘𝙤𝙪𝙡𝙙 𝙢𝙚𝙖𝙣 𝙞𝙣𝙫𝙚𝙨𝙩𝙞𝙣𝙜 𝙞𝙣 𝙖 𝙣𝙚𝙬 𝙗𝙪𝙨𝙞𝙣𝙚𝙨𝙨 𝙫𝙚𝙣𝙩𝙪𝙧𝙚, 𝙧𝙚𝙩𝙞𝙧𝙞𝙣𝙜 𝙤𝙧 𝙙𝙤𝙬𝙣𝙨𝙞𝙯𝙞𝙣𝙜, 𝙤𝙧 𝙛𝙪𝙣𝙙𝙞𝙣𝙜 𝙖𝙣 𝙚𝙙𝙪𝙘𝙖𝙩𝙞𝙤𝙣.
Your equity can be a game changer. If you’re unsure how much equity you have in your home, call or message us so you can start planning your next move.
