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EQUITY POSITION

Monday, December 12, 2022   /   by Ameil Gill

EQUITY POSITION

We often talk about the value of our home. However, what we don’t often look at is our equity position — home equity is the current market value of your property, less what is owed. Across the country, homeowners are experiencing sizable equity gains because of increased property values (historic double-digit growth figures).


There are a number of 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!


? Refinance to a shorter-term / modified loan product.


When was the last time you checked your home equity position?


I’m always available, as your real estate expert, to provide a FREE Property Equity Report. 
Message me today and let’s start the conversation so we can build your wealth together.

REMAX Realty One Inc. - The Gill Team
Ameil Gill
50 Burnhamthorpe Road West Sussex Centre Ste #102
Mississauga, ON L5B 3C2
416-884-1359

Information is provided exclusively for consumers’ personal use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS®.
Information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS®. Copyright 2023 Last Updated January 29, 2023
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