Has your home increased in value more than $250,000 since you purchased it? If so you could be leaving money on the table by not selling it now as any future equity growth over $250,000 ($500,000 for a married couple) might be taxed.
I'm a Realtor and therefore am not qualified to provide tax advice. This information should not be taken as tax or legal advice. With that said, I'd encourage you to read this article and contact your tax advisor for further advice.
This market is moving fast and homes are appreciating at a rapid pace. Many homeowners have quickly found themselves in a position where their equity has exceeded the allowable amount to claim as a capital gains exemption. Some homes have appreciated $50,000 or more in just the last few months.
Curious what your home is worth? Find out here
The Higgins Team at the GoodHome Group RE/MAX Gold has been successfully marketing and selling homes locally for over 10 years. We have the experience necessary to guide you through the process of selling your home in this market and ensuring you do so with the least amount of hassle and for highest possible price.
It never hurts to know your options. Reach out to us for a no obligation consultation. I'm confident it will be a valuable experience for you.
GoodHome Group RE/MAX Gold