How much equity will I free up by downsizing?

Downsizing equity works out to what a homeowner nets after selling the current home, paying off the mortgage and covering closing costs, minus whatever the next home costs, a number that is specific to each homeowner rather than a general figure. A homeowner who has owned their home for decades and paid down most of the mortgage typically frees up far more than someone who bought recently at a high price. A current comparative market analysis on the existing home is the starting point for that calculation.