Right now, American homeowners are sitting on a record $11.5 trillion in tappable equity—and a large chunk of that belongs to homeowners right here in Tampa Bay.
That's equity you can access without selling your home, while keeping at least 20% of your home's value intact.
And with interest rates on home equity lines of credit (HELOCs) starting to ease, this may be the most affordable time in years to tap into your home's value—especially in a strong market like ours.
But is now the right time to borrow, or should you wait?
Let's break down the numbers, what this trend means for Tampa Bay homeowners, and how to decide if leveraging your equity is...
Imagine this: You walk through the front door after work. Your dad is teaching your daughter how to make his famous pasta sauce in the kitchen. Your mom is watering plants on the lanai. Upstairs, your brother's wrapping up a Zoom call from his home office.
Sound a little chaotic? Maybe. But for thousands of families right here in Tampa Bay, multigenerational living is becoming more common—and surprisingly, they love it.
According to Berkshire Hathaway HomeServices, backed by Warren Buffett's legendary market insight, multigenerational living is one of the fastest-growing housing trends in the U.S.—and Tampa Bay is no exception.
Let's take a look at why this trend is growing and how it's playing out across our local market.