Downsizing
One day you suddenly come to the realization that you've got more space than you really need. Now may be the time for you to trade down.
Tax benefits for
house sellers
Thanks to the Taxpayer Relief Act of 1997, house sellers can more easily shield from tax a big portion of their house sales profits. Single taxpayers can avoid capital gains taxation on up to $250,000 and couples filing jointly up to $500,000 of profit. As long as you lived in the house as your primary residence for at least two of the previous five years, this tax exclusion is available to you.
Presuming you're willing to sell your primary residence, the new house sales tax law makes it easier to convert your home equity directly into liquid investments you can live off during retirement. Of course, such a strategy requires you to either trade down or become a renter; trading to an equal cost or more expensive home won't free up more of your money.
Be sure to check out the many different programs we offer
like: the Maximizing The Value of Your
Home Highly recommended!!!!! Free In Home Presentation,
We look forward to working with you.
We appreciate the opportunity to assist you in all
your real estate needs. ADVANTAGE JANES
REALTY cooperates fully with all other real estate companies. As experienced
Real Estate professionals, we will provide the dedication, honesty, and
outstanding service that each client deserves. We want to earn your business!
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