This is apparent from a survey by mortgage advice chain De Hypotheker among 975 homeowners.
At least nine out of ten of them think they already have equity. That is not surprising when you consider how fast house prices have risen in recent years. Of the surveyed homeowners, 10% estimate the equity is less than €50,000, 22% think they have between €50,000 and €100,000 and more than half expect more than a ton.
Increase mortgage
And what do people do with that surplus value? Many homeowners can take advantage of this, says Menno Luiten, commercial director of De Hypotheker. “Due to the sharp rise in house prices – which have more than doubled in the past ten years – more and more homeowners have a significant surplus value on their home. This makes it possible to increase the mortgage, provided this is also feasible and affordable on income. With a mortgage of €300,000 and a home value of €450,000, there is sufficient room to use part of the equity.”
Most, 25%, say they want to use it to buy another home in due course. A group of 14% say they want to use it for a renovation of the house and 13% for sustainability. A group of 17% has already renovated the house recently.
Displeased
Although the house has increased in value in almost all cases, that does not mean that homeowners in large numbers are satisfied. Nearly four in ten say they are not. They actually want to live in a different place, bigger or smaller.
But because that is difficult, more and more movers are opting to renovate or modernize their old home. More than one in three opts for creating more living comfort, 12% say they want to make the house life-proof. More than a quarter has already invested in sustainability and almost one in five still wants to do so. The first thing to consider here is solar panels, then insulation and then a heat pump.