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Finally hit the 300K mark on home equity, still can't believe the numbers
I bought my place in Decatur back in 2018 for $215K, just a basic 3 bed 2 bath with a cracked driveway and outdated kitchen. I used it as a rental for two years, then moved in during 2020 when work went remote. Got it reappraised last month for a HELOC and the appraiser came back at $515K. That's almost 300K in equity from a house I almost passed on because the water heater was dying. I did put maybe $18K into it total, mostly a new HVAC and redoing the bathroom myself, but nothing crazy. The crazy part is I know three neighbors on my street who sold for even more, one got $540K and his house is smaller. I'm not planning to sell, but it makes me wonder if I should cash out some for a rental property or just let it ride. Anyone else been shocked by their appraisal in Atlanta lately, and what did you do about it?
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