Congrats! Your house is selling for substantially more than you paid for it! That’s a good thing… or is it? The IRS may want a chunk of the profits in the form of capital gains tax. There are some scenarios when selling a home will generate a tax liability. But there are ways that homeowners can avoid taxes of home sales.
After the real estate bubble burst in 2008, it seemed like foreclosed houses could be found in almost every neighborhood across the country. The number of foreclosed homes reached an all-time high in 2010 but has steadily decreased each year since. Nevertheless, as long as there have been mortgages, there have been people unable to pay them. Buyers can get a bargain buying a foreclosed home. But if they’re not cautious, they can get more than they bargained for.
Whether you’re looking to move out of your parents’ house or just ready to relocate in general, there are a few options for you to consider. We’re talking about buying or renting. While there are benefits to each, we believe that buying has an amount of benefits. Have you spoken to a BHHS Select real estate agent before? Maybe it’s time to consider this option. Keep reading to find out how buying is better than renting.
By Kay Bell
You’ve found the perfect house. Interest rates are still low. There’s just one thing standing between you and your dream home: a down payment.
Don’t abandon your homeownership dreams just yet. Here are nine ways to come up with the cash for your new home.
Pay Off Your Credit Cards
By Cheryl Knight
Buying a house is a life-changing process that requires lots of upfront financial planning.