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Hit $250k in home equity after 5 years and it still feels like a glitch in the system
Bought my first place in Denver for $310k in 2019 and after a refi and some basic updates it just appraised at $560k, which is wild because I barely did anything besides paint and swap out light fixtures, so has anyone else had their equity jump that fast without a major renovation?
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fionanguyen5mo ago
The whole housing market feels like one big lottery ticket right now. Paint jobs and light fixtures shouldn't be worth that much, but here we are with everyone's equity jumping like crazy. My coworker bought in Phoenix around the same time and her house did almost the same thing with zero upgrades. It's like the system just decided to hand out free money to anyone who already owned something, which is wild when you think about how hard it is for first-time buyers right now.
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nathan_kim5mo ago
Right? Pure luck of the draw for homeowners.
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kim_mason555mo ago
Jumped on that same lottery ticket in Denver myself, bought a little ranch for $290k back in 2018 and now it's at $510k after I did nothing but throw a coat of paint on the bathroom and mow the lawn a few times. Feels like I won a prize for just showing up while people out there are slaving away on full gut rehabs for less gain. Honestly makes me wonder if I should just slap a "for sale" sign on the front door and retire to a cardboard box somewhere.
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