One of the things people like to talk about in January is financial goals for the year. When thinking about your financial goals, consider what you plan to do with your home and its equity. Today we’ll talk about 2021, your equity, and taxes.
In 2021, most homeowners experienced huge equity growth. The average homeowner’s equity increased by $51,500. In California, growth averaged over $116,000 in places like Santa Clarita.
“We want to help you reach your financial goals this year.”
Due to that growth, people are asking us about what they can do with it. Your home equity can help you move up or down in the same area, buy the vacation home you’ve always wanted, start a new business, or work towards education. We have amazing lenders that can do cash-out refinances so who you can reach those financial goals this year.
Where do taxes come into all of this? How you file has a lot to do with what you will qualify for between now and 2024. If you’re planning on buying a home or doing anything that might require borrowing money, talk to us first, and we’ll get you in touch with one of our world-class lenders. It’s great to write things off and pay as few taxes as possible, but we don’t want to do it to the point that we can’t qualify for later purchases.
If you have any questions or need a referral for a great lender or a financial advisor, give us a call, and let us help make 2022 your best year yet.
