Congrats! Your house is selling for substantially more than you paid for it! That’s a good thing… or is it? There are some scenarios when selling a home will come with hidden fees and tax liabilities.The IRS may want a chunk of the profits in the form of capital gains tax. But there are ways that homeowners can avoid taxes on home sales.
For many, owning a home is a big part of the American Dream. It means not having to ask a landlord for permission to paint cabinets; not having to pay extra to have a pet; and having a backyard to entertain friends. It also means an end to rental payments that don’t build equity.
But while the privacy and stability of a permanent residence is appealing, deciding to buy a house can also be scary.
Berkshire Hathaway HomeServices Select Properties is excited to announce the development of its tenth office in the St. Louis region. This latest addition to our list of local offices is within the city limits in the heart of historic Benton Park. Embracing the look and feel of the neighborhood, we have renovated the building at 1924 Pestalozzi Street while maintaining its original charm and the recognizable architecture specific to St. Louis.
Relocating can come with a wave of emotion, beyond the general stress of getting your finances in order and taking the time to find the right home. The stresses of moving may hit in different stages based on your needs and current situation, and a lot of that stress can come specifically from buying.
One thing that many people like about this part of the Midwest is the change of seasons. But those moving from warmer climates might wonder what there is to do all winter besides hibernate and wait for spring. Even those who have lived in Missouri or Illinois for a long time might be looking for something new to do in the cold, dreary months following the holidays.
When looking at homes for sale, buyers are likely to hear the term “fixer-upper.” While they may have a general idea of what that means, they might be less clear about how that house might differ from one described as “needing some TLC” or one that is advertised as “perfect for flipping.”
A fixer-upper can be a dream come true—or a total nightmare. The outcome often boils down to these questions:
You’re about to form a very meaningful relationship. No, we’re not talking about dating or getting married. We’re talking about the kind of partnership you need with your real estate agent when you decide to buy or sell a house. And while you’re not committing to spending a lifetime with them, the bond must be one based on trust and communication.
Two things you can always count on at this time of year: A recap of the past year, and predictions about the one that’s about to begin. Since 2020 was...let’s call it unpredictable...forecasts for 2021 are sure to generate a lot of interest.
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People in search of real estate bargains may find themselves considering foreclosures. Foreclosed homes have been seized by a lending bank after a homeowner has defaulted on their mortgage. Although not as common as during the real estate crisis of 2008, foreclosures still happen all over the country.
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It’s not news that buying a house is a big financial investment. But many first-time buyers wonder if buying a home is worth it. They wonder how long it will take before breaking even compared to renting. The St. Louis region actually has one of the shortest break-even times in the country.
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