For more videos, blogs and details on Buying or Selling a Home go to www.PremierHomesByAngela.com
Equity — or the share of your property you actually own — is a benefit to any homeowner. For one, it means more profits when it’s time to sell. On top of that, it can also give you cash when you need it — either through a refinance or home equity loan.
Fortunately, building equity can be easy. Every month you increase your home equity by making your mortgage payment.
If you want to build your equity even further, there are several ways to do it, including:
- Buying in an up-and-coming market. If home values in your neighborhood start to rise, so will your property value. That can mean more equity, too.
- Increasing your down payment. The more you put down, the less your lender will need to loan you, and the larger your equity stake will be.
- Paying more on your mortgage. Putting extra toward your mortgage loan — either each month or a few times a year — can help you pay down your balance and increase your share. Consider putting your annual tax refund toward your loan to really make a dent.
- Renovating your home. Anything that improves your home’s value also increases your equity. Choose your projects wisely, and reach out if you need some help getting started.
- Refinancing your loan. With a short-term loan, like a 15-year, you can pay down your balance faster (and sometimes get a lower rate as well). This can help you build equity more quickly.
Do you have questions about home equity? Or are you planning to buy or sell property this year? Reach out today.
Premier Homes By Angela awaits your call to assist you with buying or selling your home, (844) 385-SOLD. Our goal is to be your For Life REALTOR® as we assist in building the communities of Atlanta up through homeownership. We provide you with educated, knowledgeable guidance that can only be made with accurate, reliable, and projected market information. We use proven repeatable systems for client successful results. We are happy to be a trusted professional resource for you and your family. Thank you for the opportunity to provide you with this blog, we look forward to answering any questions you may have and to the opportunity to be your REALTOR® in the future. Your Dream Our Mission, we are the KEY to your real estate experience!
Disclaimer: Videos produced/displayed by Premier Homes By Angela are provided for informational purposes only.