There are several reasons you might be considering selling your home, especially in today’s housing market. One challenge you may face is affordability. If that’s your main concern, understanding your home equity could simplify your decision-making process. Here are two key factors that significantly impact your equity.

How Long You’ve Been in Your Home

One major factor is homeowner tenure—how long people stay in a home before selling or moving. Historically, from 1985 to 2009, the average homeowner lived in their home for about six years. But according to the National Association of Realtors (NAR), the average tenure has now increased to 10 years.


Why does this matter? You gain equity by paying down your mortgage and as home prices rise. Over the course of 10 years, this can add up significantly. So, if you’ve been in your home for a while, you could be sitting on substantial equity.

How Home Prices Appreciate Over Time

The second factor is home price appreciation. According to data from the Federal Housing Finance Agency (FHFA), homeowners who have been in their house for five years have seen home values rise nearly 60%. Those who’ve owned their home for 30 years have seen their home’s value more than triple.

Whether you’re thinking about downsizing, relocating within Conejo Valley, or moving closer to loved ones, your equity could make a huge difference in your next move.

Bottom Line

Want to know how much equity you’ve built over the years and how you can use it for your next home purchase? Let’s connect.