Building equity in your home is one of the smartest investments you can make. If you put time and money into your home, you'll enjoy significant returns on your investment. As a homeowner, you can improve your net worth, customize your living space, and save money.
Raise Your Net Worth
The median net worth among American homeowners is about $77,000. 75% of that net worth is the equity that owners have accrued. With that equity at nearly $50,000, the average homeowner could cash out on his or her home's equity and make major purchases.
What is net worth?
Your net worth is a dollar value assigned to the total of your assets minus debts. Anything you own, from appliances to cars, counts toward your net worth.
- Automobiles
- …