It’s Time To Find Out Your Home’s Equity Value

By Scott Ostrode

Scott has been a licensed Realtor since 1998. In 2003 he joined Keller Williams Realty and in 2007 he formed Team Ostrode Properties. Scott grew up in Sacramento and has raised his family in the area as well.

Do you know how much equity you have in your home? If you don’t know how much equity you’ve built up in your home, you don’t know what you’re missing. Today, I will share how we can help you determine your home’s current equity and how you can utilize it.

At Team Ostrode, we conduct equity reviews for all our clients and found that very few know how much their home is worth. Recently, we did an equity review for a client and discovered that their home’s value had increased by over $400,000 in less than four years. In another case, a client’s home value increased by over 30% in four years. When your equity has grown, this means that you can start making your equity work for you. Here are four ways to utilize your home equity:

1. Move into your next home. Whether you need more space for a growing family or wish to downsize for a more manageable lifestyle, your home equity can provide the necessary funds for a new home. You can use the equity from your current home to cover the down payment and closing costs on your next property. The same applies if you’re relocating for work or just want a change of scenery.

2. Pay off debts. You can use your equity to pay off debts such as student loans and car loans. By using your home equity to pay off these loans, you can save on interest costs and streamline your debt repayment process.

3. Do home improvement projects. You can enhance your home’s comfort and aesthetic value by using your equity to fund home upgrades such as kitchen remodels, backyard renovations, and more.

4. Install a swimming pool. If you want to get the most out of your equity, installing a swimming pool is a great option. Having a private pool not only increases fun and bonding with your family; it also increases your home’s value.

By understanding and utilizing your home equity effectively, you can achieve your financial goals, improve your quality of life, and enhance the value of your property. If you’re unsure about how much equity you have or how to use it, consult with a real estate professional like myself to explore your options. Just call (916)-799-1662. I look forward to talking with you!