How Home Equity Could Help You Buy Your Next Home with Cash
If you’re a homeowner, you may be sitting on one of the most powerful financial resources available today—your home equity. With equity levels at historic highs across the U.S., many homeowners are finding new opportunities to make their next move without taking on another mortgage.
Whether you’re planning to downsize, relocate, or retire, tapping into your equity could be the key to making a cash offer on your next home—freeing you from monthly payments and the stress of rising interest rates.
? What Is Home Equity, Really?
Put simply, home equity is the difference between your home’s current market value and what you still owe on your mortgage. So if your home is worth $850,000 and your remaining loan balance is $200,000, you’ve got $650,000 in equity.
And thanks to rising property values and years of mortgage payments, many homeowners are sitting on a goldmine—often without even realizing it.
? Why Equity Matters More Than Ever
According to recent reports from the U.S. Census Bureau and ATTOM, more than two-thirds of homeowners have over 50% equity or own their homes outright. CoreLogic estimates that as of late 2024, the average homeowner holds $311,000 in equity.
That’s not just a number. That’s real buying power—and it could play a major role in your next real estate move.
? Why More Buyers Are Paying Cash
In 2024, 26% of all homebuyers purchased with cash, according to the National Association of Realtors (NAR). That’s one of the highest percentages on record, and growing equity is a major reason behind this trend.
By using your equity to purchase your next home outright, you unlock a host of benefits:
- No mortgage payments
- No worries about rising interest rates
- Stronger, more competitive offers in today’s fast-moving market
- Lower closing costs (no lender fees)
Even if you don’t have enough equity to pay 100% in cash, using it to make a larger down payment can still reduce your monthly costs significantly.
? How Much Equity Do You Have?
Wondering if you have enough equity to pull off a cash purchase or significantly lower your financing needs? The best place to start is with a Professional Equity Assessment Report (PEAR). This personalized analysis considers:
- Your home’s current estimated market value
- Your outstanding loan balance
- Recent comparable sales in your neighborhood
- Local market trends
Armed with this insight, you can make smarter financial decisions—whether you’re moving up, scaling down, or transitioning into retirement.
✅ The Bottom Line
For today’s homeowners, equity isn’t just a number—it’s a powerful financial tool. It can pave the way to debt-free homeownership, lower housing costs, and a simpler, more flexible move.
If you’re considering selling and want to know how your home equity can open new doors, now’s the perfect time to explore your options. You might be closer than you think to owning your next home with cash.
? Work with Lori Eastridge, Broker/Realtor® – Your Trusted Guide to Equity-Powered Moves
Navigating a move that involves tapping into your home equity requires more than just a calculator—it takes local knowledge, personalized strategy, and expert negotiation skills. That’s where Lori Eastridge comes in.
As a Broker/Realtor® with NC High Country Real Estate, Lori has helped countless homeowners turn equity into opportunity—whether downsizing into a mountain retreat, relocating closer to family, or buying a vacation home debt-free. With her deep market expertise, personalized guidance, and Certified Luxury Home Marketing Specialist™ designation, Lori makes sure your next move aligns with both your financial goals and your lifestyle dreams.
? Call or text Lori Eastridge today at 828.773.2080 to schedule your Professional Equity Assessment Report and explore how close you really are to buying your next home with cash.
