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Maybe you want to renovate your home to avoid having to buy a new house in today's cutthroat market. Perhaps you wish to pay off higher interest credit card or student loan debt. Tapping home equity can be a viable and beneficial financial strategy for many reasons but also comes with its fair share of risks.
When Harry met Sally, they bought a wonderful home for $50,000. They loved their home, neighborhood, and the fond memories created there. However, when Harry passed away, Sally decided it was time to move. Now, Sally is left wondering what the tax consequences might be.
The Qualified Personal Residence Trust provides an opportunity to remove your residence or vacation home from your estate. It may be the perfect strategy for you and worthy of a conversation with your attorney or financial planner.
Purchasing a second home should not be an impulse decision. It requires diligent research and financial commitment. Before you buy, consider the consequences, estate issues, and more.
The COVID-19 pandemic has affected all aspects of the economy. But what impact has it had on the residential real estate market? Are fewer homes being sold? Are prices declining? Some of the results might surprise you.
Anyone who has worked with a realtor has a general idea of the basics of the job, but there’s much more to real estate than showing homes and brokering deals. It turns out realtors can provide many services to their clients that you might not be aware of. If you’re in the market to buy or sell, be sure to check out several ways your realtor can be working for you.
It’s a hot seller’s market right now – and that could mean more cash in your pocket if you’re looking to sell your house. But not so fast! Before you make that leap and list your home, be sure you fully understand the tax implications of selling your house for a greater profit. Read on to discover how to uncover what your tax liability will be when you sell your home.
We’re coming off the best year for existing home sales in 11 years…so is now the right time for you to downsize? Many might advise you to take the money and run, but it could come at a cost. We’ve outlined the pros and cons for downsizing, and what each might mean for your bottom line.
You lose something of value and your first question is “is it covered?” Insurance polices provide a limited amount for such losses, but generally not enough to cover expensive items. To be fully reimbursed, what do you do?
The busy home-buying season is just ahead. Whether you’re a first-time homebuyer or a seasoned homeowner looking to upgrade or downsize, it’s important to know how much home you can afford to buy.
Buying or selling a house? The legal documents can make you crazy! It’s to your advantage to understand the documents required and whether you should sign on that dotted line.