Downsizing can mean taking that equity when the home is sold and using it to pay cash or make a large down payment on a lower-priced home, reducing your monthly living expenses.
Almost half of homeowners are equity rich because they have at least 50% equity in their homes. If you’ve been in your home for a while, you might have gained a considerable amount of equity, too.
If you need to sell now because something in your own life has changed, don’t let rates hold you back from what you want. You have options to help make that move possible.
According to a recent Gallup poll, real estate has been voted the best long-term investment for 11 years in a row, beating gold, stocks, bonds, and more.