Wondering how to Calculate Home Equity?
We all know our home is one of our important investment. Have you every wondered how you can find out how much equity you have in your home? Knowing how much equity you have in your home can be used as a factor in determining when is the right time to sell.
The easiest method used is to figure the equity is to calculate 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.
If you are looking to enter the housing market, as either a buyer or a seller, let’s get together to go over exactly what’s going on in our neighborhood and discuss your options!
When you're ready to buy, sell or invest in real estate, you need trusted local experts.
Call today to arrange a personalized consultation!
Jim Bradley 801.599.1089