Your Home Equity Could Help the Next Generation Buy in Williamsburg

If you’ve owned your home in Williamsburg for a few years, chances are you’ve built up a significant amount of equity—just by living in it. And for many local families, that equity is becoming more than just a number—it’s a legacy.

With rising home prices and higher interest rates, many younger buyers are facing real challenges. Even with solid incomes and long-term plans, the down payment hurdle can feel like a wall. That’s why more parents are stepping in to help. And in many cases, they’re using the equity they’ve earned through years of homeownership to do it.

In fact, nearly half (49%) of buyers between the ages of 18 and 26 received help from their parents for their down payment, according to Bank of America. That figure drops to 27% for buyers aged 27 to 42. These younger buyers often have the job history and the desire to stay in Williamsburg long-term—but without financial help, many say they simply couldn’t do it.

That’s where your home equity could be a game changer.

According to Cotality (formerly CoreLogic), the average U.S. homeowner with a mortgage has over $300,000 in equity. Many homeowners in neighborhoods like Ford’s Colony, Kingsmill, or Governors Land may have even more. By tapping into a portion of that value, some are helping their adult children break into the housing market—starting them on their own path to equity and long-term stability.

Helping with a down payment isn’t just financial—it’s emotional. It’s being part of the moment when your child calls to say, “We got the house.” It’s knowing you made it possible for them to stay close, raise their own family here, and enjoy the same strong community roots that have meant so much to you.

And for those wondering whether that support really makes a difference: according to Compare the Market, 45% of young Americans who received help said they wouldn’t have been able to buy a home without it.

Bottom Line

If you’ve built up equity in your Williamsburg home, that value could help the next generation plant roots right here in the community you love. Want to explore how it might work? Let’s talk about your options—and how to make a meaningful move forward for your family.