Building Equity in Your Home

We often talk about the value of your home. However, most people aren't always thinking about their equity position. Home equity is the difference between what you owe on your mortgage and what your home is currently worth. Across the country, homeowners are experiencing sizable equity gains because of increased property values (historic double-digit growth figures).

There are many different ways you can build equity (wealth) in your home on top of typical appreciation.

• Make additional payments toward the principal of your loan. Paying down your mortgage combined with the appreciation of your home is a powerful combination.
• Sign up for bi-weekly mortgage payments. Making 26 half payments over the course of a year actually translates into an "extra" 13th payment.
• Make key home improvements that will increase the value of your property. Hint: ask your agent before making any major renovations!
• Refinance to a shorter-term / modified loan product. Hint: talk with your lender about what products are available to you.

When was the last time you evaluated your home equity?

As your real estate resource, we're always available to provide a FREE market report and home equity evaluation!

Get started HERE

Travis Recer

(931) 278-1144

Recer Home Group

Keller Williams Real Estate

#recerhomegroup #ClarksvilleTNRealEstate

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