If you don’t have the space you need, perhaps it’s time to move into a larger home. Maybe you have too much space and need something smaller. Whatever your situation, consider using your equity to purchase a home that fits your evolving needs. If you’re thinking about upgrading or downsizing your home, your equity can get to work for you as the down payment on your next purchase. If you’re thinking about downsizing, your equity may cover some, if not all, of the cost of your next home. A real estate advisor can help you figure out how much equity you have and what that equity gives you as buying power.

According to a recent survey from Point, 39% of homeowners would invest in home improvement projects if they knew the power of their equity (KCM). If you’re looking to upgrade your existing home to be more efficient or comfortable, this could be an excellent option for you. Home improvement projects allow you to customize your home to suit your needs and sense of style. Think ahead when making updates to your home, as some improvements add more value and are more likely to appeal to future buyers than others. Any of our Red Post Agents can assist you on which home renovation projects to invest in to get the greatest return on your investment.

Home equity can be used for more than just moving or updating your house. An education, a new business venture, or retirement are all possible avenues. Your equity should not be used for unnecessary spending, but it can be leveraged to propel you forward.