What Is Home Equity?
When you look at your home’s current value and subtract the amounts owed on mortgages along with any liens against it, whatever the difference is – is considered your home’s
equity.
How Does Home Equity Work?
Let’s say you buy a house for $150,000 and you make a 20% down payment which is $30,000, then you get a loan for $120,000 to cover the balance. Your home equity interest becomes 20% of the value so your contribution of $30,000, means you own 20% of the home or $30,000 worth of it.
Now if the housing market blooms and your home’s value increases, let’s say your home’s value doubles, you’d have a 60% equity stake if the home is now worth $300,000. You’d still owe the $120,000 because your loan balance stays the same. When your home’s value increases, your home’s equity increases.
If you have any “equity” questions, please feel free to reach out to me, and I’ll help you calculate it.
Increasing equity in your home feels great but takes time to build; however, increasing equity in yourself only takes a few minutes.
Give Yourself Self-love During the Holidays
As you transition from thanksgiving into the winter holidays, there are a few actions you can take that will help you avoid the “over” pit. Do you know what the “over” pit is? I’m talking about the season of “over” spending, “over” eating, and “over” drinking. What other “overs” can you think of that we need to avoid? This season, I challenge you to give yourself a gift this year – self-love.
What is Self-love?
Self-love is a high regard for your own happiness, it’s taking care of your own needs and not sacrificing your needs to meet other people’s needs.
During the holidays, we give so much and throughout the year, some of us give and give and give to others, our family, spouses, and children, and sometimes we get left out of the giving. This year I challenge you to give the gift of self-love. Love yourself more this year.
Ways to Love Yourself
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Find a good book to read and snuggle up in a corner and crack it open. Choose a time when you know no one will be looking for you.
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Spend some time outside in nature: take a brisk walk. When was the last time you took a walk outside, during fall? Do it safely and during daylight hours but take a 30-minute walk to get the heart pumping.
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Surround yourself with positive people. Do a people detox and remove anyone who seems like a negative influence in your life.
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Dance around the house. Dancing increases circulation, strengthens the muscles, and lowers blood pressure, it’s a great workout and you have fun doing it.
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Make a gratitude list. Think about all that you’re grateful for and make a list. Write down 3 things a day and watch your mood elevate.
I just wanted to give you a few things to ponder, I hope this was helpful. If you know anyone who may need my assistance, please help them by referring them to me. If you know anyone who would benefit from this post, please forward it to them. Please feel free to ask questions and remember to follow me on social media:
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