What Homeowners Should Know About How to Build Equity in a Home | Houselogic
How to Build Equity in your home
Home equity is one of the biggest financial benefits of home ownership. Here’s how to make it count.
As home prices have surged in recent years, homeowners have emerged as the real winners in real estate. You may be shocked at just how much wealth you and other homeowners have built.
“The market’s health is supported by a cumulative 49% home price appreciation for a typical American homeowner from pre-COVID July 2019 to July this year,” says Lawrence Yun, chief economist at the National Association of REALTORS®. Over the last five years, the average homeowner’s wealth has increased by $140,900, NAR research shows.
Potential home buyers and current homeowners need to understand that home equity isn’t just about numbers. It’s a way to manage wealth, leverage assets, and plan for financial goals.
