When your home is worth far more than what you paid for it, you might expect to make a tidy profit when selling. However, you may end up paying capital gains tax too. Depending on how long you have owned your home and market conditions, this amount can be significant. Here are tips to limit capital gains tax liability when selling, or thinking about selling in the future.
One of the biggest hurdles buyers have faced over the past few years has been a lack of homes available for sale. But that’s starting to change. Context is important. On the one hand, inventory is up over the past few years. That means you’ll likely have more options to choose from as you search for your next home. But, at the same time, the graph above also shows there are still significantly fewer homes for sale than there would usually be in a more normal, pre-pandemic market. And that deficit isn’t going to be reversed overnight.
Here’s a statistic we couldn’t help digging into a little deeper- almost twice as many single women are becoming homeowners vs single men. According to data from the National Association of Realtors (NAR), 19% of all homebuyers are single women, while only 10% are single men. And the number of single female homeowners is growing, and for good reasons.
If you’re thinking of selling your house this spring, now is the perfect time to start getting it ready. With the market gearing up for its busiest time of year, it’ll be important to make sure your house shines bright among the competition.
If you’re planning to buy your first home, saving up for all the costs involved can feel daunting, especially when it comes to the down payment. That might be because you’ve heard you need to save 20% of the home’s price to put down. Well, that isn’t necessarily the case.
Has the idea of sharing a home with loved ones like your grandparents, parents, or other relatives crossed your mind? If so, you’re not alone. More buyers are choosing to go this route and buy a multi-generational home. Here’s a look at some of the top reasons why, to see if a home like this may be right for you too.
If one of the goals on your list is selling your house and making a move this year, you’re likely juggling a mix of excitement about what’s ahead and feeling a little sentimental about your current home.
A great way to balance those emotions and make sure you’re confident in your decision is to keep these three best practices in mind when you’re ready to sell.
Among the many benefits of owning a home, net worth is something that can move your investment portfolio forward. If you’re trying to decide whether to rent or buy a home this year, here’s a powerful insight that could give you the clarity and confidence you need to make your decision.
If you’re thinking about buying a home, pre-approval is a crucial part of the process you definitely don’t want to skip. So, before you start picturing yourself in your new living room or dining on your future all-season patio, be sure you’re working with a trusted lender to prioritize this essential step. Here’s why.
When you read about the housing market, you’ll probably come across some information about inflation or recent decisions made by the Federal Reserve (the Fed). But how do those two things affect mortgage rates and impact you and your homebuying plans? Here’s what you need to know.