Mary the Downsizer
A smidge over 70 (but age is just a number, right?) Find her every Saturday at Fit Fusion. There’s a 5k charity stroll in a month so still time to break in the new sneakers. Would be Haddon Honey’s Bridge Champion if it wasn’t for those “lousy cards”. Good job they only bet $1.50 at a time. Used her home’s equity to buy a condo in Cherry Hill with money leftover for a singles cruise. As her pre-teen granddaughter would say: #vibing.
Your Real Estate Thrive = Downsizing
When we talk about thriving in real estate, what we’re really talking about is…the equity you’ve accrued in the property you own.
What is property equity?
Home equity is like a savings account, but it's your house that's doing the saving.
You can accrue equity in one of two ways:
1️⃣ You make mortgage payments, chipping away at what you owe.
2️⃣ Your home appreciates in value. South Jersey real estate is a bit of a rockstar these days, so you can expect a great amount of appreciation.
Using Your Equity To Downsize
Home equity can unlock a world of financial opportunity for you. Not only can you can tap into that equity if you need cash for home repairs or renovations, but it can also help you move house. And if you’re at a stage of your life where you want to make some changes like downsizing to a more manageable property, your equity can really work in your favor. Whether it’s:
Making use of a bridge loan...
...so you can seamlessly move into your next home before you even start selling the current.
Using all of your equity to buy your next home mortgage-free
(with cash leftover for your retirement fund, a new car, a luxury cruise!)
Or one of many other options!
…you might be surprised at how your current home’s equity can make your next move absolutely seamless.
