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Considerations and Costs
While home equity sharing offers numerous benefits, it's essential to understand the costs and implications involved. The percentage of equity shared can vary significantly, often ranging from 10% to 25% of your home's current value. Additionally, these agreements usually require homeowners to maintain the property and keep up with taxes and insurance, ensuring the investment's integrity3.
It's also crucial to consider the long-term impact on your home's equity. While you gain immediate access to funds, you are effectively sharing future appreciation, which could be substantial in high-growth markets. Therefore, evaluating your financial goals and consulting with a financial advisor can help you make an informed decision.