This is evidenced by a survey conducted by mortgage advisory chain De Hypotheker among 975 homeowners.
At least nine out of ten of them believe they already have equity. This is not surprising when you consider how quickly home prices have risen in recent years. Among the homeowners surveyed, 10% estimate their equity is less than 50,000 euros, 22% think they have between 50,000 and 100,000 euros and more than half expect more than a ton.
And what do people do with this extra value? Many homeowners can benefit from this, says Menno Luiten, De Hypotheker’s commercial director. “Due to the sharp rise in home prices – which have more than doubled in the past 10 years – more and more homeowners are significantly over-valued on their homes. This makes it possible to increase the mortgage, provided that it is also feasible and affordable on income. With a mortgage of 300,000 euros and a house value of 450,000 euros, there is enough space to use part of the capital.”
Most, 25%, say they want to use it to buy another home in time. A group of 14% said they wanted to use it for home renovation and 13% for sustainability. A group of 17% recently renovated the home.
Although the home has become much more valuable in almost all cases, this does not mean that homeowners in large numbers are satisfied. Nearly four in ten say they are not. They really want to live in a different place, bigger or smaller.
But since it is difficult, more and more movers are choosing to renovate or update their old home. More than one in three choose to create more living comfort, 12% say they want to make the home life-proof. More than a quarter have already invested in sustainability and nearly one in five still want to do so. The first thing to consider here is the solar panels, then the insulation and then the heat pump.
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