The Number Every Homeowner Should Know Before Making a Move
When’s the last time someone told you what your home is actually worth?
Not what an online estimate says. Not what your neighbor’s house sold for. What your home could realistically sell for in the current market.
For many homeowners, it’s probably been a while.
And if you’ve been thinking about making a move but higher home prices or mortgage rates have made you hesitate, there’s one number that may be worth taking a closer look at: your home equity.
Your Home May Be Worth More Than You Think
Home values have increased significantly over the past 5–10 years. And even though the market can shift over time, homeowners continue to build wealth simply by owning their homes.
That’s the power of equity.
As your home’s value increases and you continue making mortgage payments, the amount of equity you have can grow — sometimes by a lot.
According to Cotality, the typical homeowner with a mortgage has approximately $310,500 in equity.
That’s a pretty significant number.
And it’s a national figure. In many states, homeowners have built even more equity over the years.
Every local market is different, but the question is the same:
How much equity have you built in your home?
Because knowing that number could change how you think about your next move.
Your Equity Could Be the Missing Piece
It’s easy to look at higher home prices and mortgage rates and assume moving simply isn’t realistic.
And yes, those are important factors - especially if you currently have a very low mortgage rate.
But they’re not the whole picture.
If you’ve owned your home for several years, you may be walking into your next move with a significant amount of equity behind you.
That can change the math.
Instead of starting from scratch, you could be bringing a substantial financial asset with you to your next home.
What Could Your Equity Help You Do?
Maybe you’ve outgrown your current home. Maybe you’re ready to downsize. Or maybe your home is in the perfect location, but the layout no longer works for your life.
The equity you’ve built could give you more flexibility than you realize.
Depending on your individual situation, it could help you:
Put More Toward Your Next Home
A larger down payment means borrowing less. And when mortgage rates are higher, reducing the amount you need to finance can make a meaningful difference in your monthly payment.
Make an All-Cash Purchase
This one surprises people.
Some homeowners have built enough equity to purchase their next home outright. According to the National Association of Realtors, 26% of repeat buyers paid cash for their home in July.
For some homeowners, years of appreciation and mortgage payments can create that kind of purchasing power.
Invest in the Home You Already Love
Not every next move has to involve moving.
If you love your neighborhood but your home needs a refresh, your equity could potentially help fund renovations that make the space work better for your life today — while potentially adding value for the future.
It Starts With Knowing Your Number
Your equity doesn’t make every challenge in the housing market disappear. But it can give you more options, flexibility, and purchasing power than you may realize.
That’s why knowing what your home is worth is so important.
At the Price Group, we believe your home value should be based on what’s actually happening in your local market - not a generic online estimate.
A Professional Equity Assessment can give you a clearer picture of:
What your home could realistically sell for
How much equity you may have built
What you could potentially put toward your next home
Whether selling, buying, renovating, or staying put makes the most sense
And you don’t have to be ready to move tomorrow to find out.
Sometimes, having the information is enough to help you start thinking differently about what’s possible.
Your Next Move May Be Closer Than You Think
If it’s been years since you’ve looked at your home’s value, it may be time to check in.
You may have built more equity than you realize - and that equity could give you more choices for whatever comes next.
Curious what your home is worth and what that could mean for your next move?
Reach out to the Price Group for a personalized Home Equity Assessment. We’ll help you understand the numbers and explore what they could mean for your goals.
Sometimes, knowing your number is the first step toward seeing what’s possible.