A home is where life happens. It’s also an asset that can build equity while you’re not looking. When did you last check how much equity your home holds? Equity is the value of a home minus what’s still owed on the mortgage. A home owned outright has no mortgage to subtract, so its equity is its full value. A home is one piece of a larger picture. How much of your net worth does it represent? What role could its equity play over time? The answers look different for every household. We look at each piece of your finances this way, including the home you live in. For some, a home is the largest asset they own. Don’t overlook its role in your personal finances. |
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