5 Reasons You Should Invest in Home Equity Growth

So, you’ve heard of home equity growth but you’re not sure what it is or what it means. You’re not alone. Here, we’re briefly going over the basics of home equity and 5 reasons why you should invest in home equity growth. What is home equity? Home equity is the value of your home against the value of the remaining debt on your home loan. All you need to do is subtract your home’s market value from your remaining debt to get a concrete number, known as your home equity. For example: If your home is worth $1,200,000 and you have $750,000 remaining on your home loan, then your home equity is $450,000. So, why should you invest in growing your home equity?  In short, when your home equity is higher, that means the debt you owe towards your home is lower – which is obviously a good thing. But if you need more convincing, here are 5 reasons why you might consider home equity growth today. Speed up the process of owning your home outright. When you invest in home equity growth, you’ll own your home outright much more quickly. Homeownership is the quintessential American dream and while many people say they own a home, that property isn’t technically yours until your entire home loan is paid in full.  Home equity growth, therefore, is the path toward true homeownership. Earn the option to borrow against your home’s value Did you know that having high home equity gives you earning potential, in addition to simply selling your home?  When you have a decent amount of equity in your home, this offers the opportunity to borrow money against your home’s value. So, whether you want to open a business to make more money or you want to invest more so that it compounds more quickly, the option of borrowing against your home equity is a huge reason to invest in its growth. More opportunities to invest in other areas. Home equity growth, quite simply, also offers more opportunities for your money to work for you. When you invest in home equity growth and pay off your home, the money you were spending on your mortgage is now available for you to invest elsewhere. You might purchase an investment property, invest in further education, or contribute extra money to your retirement fund. In short, there are so many opportunities that open up to you when you pursue home equity growth. Increase your overall net worth. Simply put, growing your home equity means increasing your assets and minimizing your debts. And when your assets far outweigh your debts, your overall net worth will steadily climb.  You probably don’t need much more convincing to invest in home equity growth when the outcome is increasing your wealth. So, we’ll leave it at that. Achieve financial freedom. Finally, investing in home equity growth is a clear path to achieving financial freedom. Homeownership and property investment are incredible opportunities to live your dream life.  And at the end of the day, financial freedom is priceless. Start your home equity growth journey today! Contact our friendly team at Token Realty and we’ll help you take the first step. Call now!

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