Owning a home is a significant milestone for many people. Along with the pride of homeownership comes the concept of home equity, which plays a crucial role in understanding the financial value of your property. Let's delve into what home equity is, how it works, and why it matters. What is Home Equity? Home equity is a fundamental concept for homeowners, representing the financial stake you have in your property. It's essentially the amount of ownership you have in your home, calculated by subtracting the outstanding balance on your mortgage from the current market value of your property. In simpler...