You May Be Sitting on More Equity than You Thought

Selling in the Austin area?  Get a market analysis report

 Purchasing in the Austin area? Get full MLS access

One of the more common questions we get concerns home equity and whether it has improved in Austin over the years. We are experiencing yet another record breaking year in home sales, which are up 3% since last year. Not only that, median value is up 7% to $252,000. What all this means is that you may be sitting on some valuable equity.

We want you to take advantage of these favorable conditions, so we put together a list of 3 tips for you to consider.

1. If the kids have left for college or you just have fewer people living in your home, you should consider downsizing. This will leave you with money for cash reserves, which is never a bad thing to have.
2. If your family is growing in size, you're probably thinking about upgrading. Interest rates are still great and the equity you're sitting on now will help with a down payment on your new home. 
3. If you like your neighborhood, your neighbors, and your current home, you can still make use of your improved equity without moving away. You can use it to improve your home. Make changes to fit your lifestyle and perhaps even add more value to your property.

Now is a great time to own property in Austin. If you would like more information on how you can get the most of these fantastic conditions, give us a call or shoot us an email. We would love to hear from you.