Ways Homeowners Can Use Their Home Equity
We have ways to use your home equity in the Metro Detroit Mi area.
Your equity is a powerful tool that can help you achieve your goals as a homeowner. And chances are, your equity grew substantially over the past year. According to the latest Equity Insights Report from CoreLogic, homeowners gained an average of $51,500 equity over the past year.
If you’re looking for the best ways to use your growing equity, here are four options:
1. Use Your Home Equity To Buy a Home That Fits Your Needs
Are you finding 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 would like something smaller. No matter the situation, consider using your equity to power a move into a home that fits your changing lifestyle. Moving into a larger home can provide extra space for remote work or loved ones. On the other hand, downsizing may mean saving time and money by caring for a smaller home.
2. Move to the Location of Your Dreams
If the size of your home isn’t a challenge, but your current location is, it could be time to relocate to a new area. Maybe you enjoy vacationing in the mountains, at the beach, or another area, and you’re dreaming of living there year-round. Or perhaps the distance between you and your loved ones is greater than you’d like, and you want to close the gap. No matter what, your home equity can fuel your move to the location where you really want to live.
3. Start a New Business
If you’re not ready to move into a new home, you can use your equity to invest in a new business venture. As the U.S. Small Business Administration Office of Advocacy says:
“There is an estimate of 31.7 million small business owners in the United States, many of them started their business with the equity they had in their home.”
While it’s not recommended that homeowners use their equity for unnecessary spending, leveraging your equity to start a business that you’re passionate about can potentially grow your nest egg further.
4. Fund an Education
Whether you have a loved one preparing to head off to college or you’re planning to go back to school yourself, the thought of paying for higher education can be daunting. In either situation, using a portion of your growing equity can help with those costs so that you can invest in someone’s future.
Get Your Home Buying and Selling Strategies in our E-Guide
Don’t muddle through the home buying and selling process. Buying a new home is a dream for all of us, and it’s an emotional and stressful process; it also involves the most significant financial transaction you probably will make in your lifetime. Your Guides are available in a Safe PDF View.
Housing Market Trends and Predictions by City
Every month we update the live 3-year live trends by city. Equally important is how long it takes homes to sell in your City and Price Range. You also have access to custom data for Sold Homes, so you don’t have to rely on Public Websites Estimates. Easy access and communication, call or text 248-343-2459. It’s essential if you’re Buying or Selling is to Know the Market You’re In and Your Negotiation Power.
Home Equity Bottom Line
Your equity can help you achieve your goals. If you’re unsure how much equity you have in your home, let’s connect today so you can start planning your next move. You can start by visiting ☝ Metro Detroit Housing Market Updates
Simplifying Real Estate Through Education
As we move forward, it’s been challenging as we navigated through all the changes. Putting your dream of a new home on HOLD shouldn’t be one of them. Now more than ever, knowledge will be your power. Know the Market You’re In and your Negotiation Power. Check out Categories for additional updates regarding the Market | Buying | Selling
If You Need To Sell 1st…🛑 I Recommend STOP Doing This!
No 2 homes are alike, and agents need to 🛑 marketing 1 size fits all. We no longer have an exposure problem (internet). Your home is buried on public home search internet sites. The only way to compete on those platforms is the price. If you want more money, you need to apply Influence. Separate your home from the competition, so the Buyer sees value. Keeping them focused on your property and not getting lost in homes’ inaccurate data on public internet sites is necessary. Having digital omnipresence on serval platforms is your key to success. Remember MORE INFLUENCE = MORE💰. We have details on how you can utilize High Tech Marketing and Win!
Peek into My Crystal Ball
This is the 3rd time I’ve been involved in a housing crisis in the real estate business. We will be watching for a shift as our economy and interest rates start bouncing back. There are 3 parts to making the most money on the sale of your property.
- Metro Detroit Housing Market Update ~ Live 3-year Market Trends.
- My Blueprint is Your 🔑 to 🏡 Buying & Selling Success~ Education is critical.
- Prepare a marketing plan that influences buyers.~ High Tech Digital Marketing
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