Do you have a property that you want to sell? Are you facing a substantial capital gains liability on the property? You may want to sell the property under something known as a 1031 exchange. A 1031 exchange is a transaction allowed by the IRS that gives seller the ability to exchange one property for another without facing any capital gains tax. The catch is that the proceeds from the sale of the first property must go into the purchase of the second property.
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There are many cases in which a homeowner rents out a part of their home, such as a single floor or an addition, to a tenant. If you're thinking of renting an apartment that is in the same building as your potential landlord's home, you'll want to carefully weigh the pros and cons of this living arrangement before signing a lease.
Pros of Living in the Same Building As Your Landlord
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One of the problems many first-time homebuyers face is finding the money to help cover the down payment and closing costs of their new home. Fortunately, many states have assistance programs that can help with those costs if potential buyers meet certain qualifications. If you are in the market for a home and need help covering all of the associated costs with buying one, here is what you need to know about the available programs.
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Having a home custom built is a great way to ensure that you get exactly what you want out of your next home purchase. However, even when working with experienced home designers and builders, there are some aspects of a new home that can be easily overlooked. By being aware of these commonly overlooked areas and making an effort to address them with your designer, you'll be well on your way to a new home design that's functional and beautiful.
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If you're like most people, your new home is one of the biggest investments that you're ever going to make. That means that you should do everything you can to ensure that it's a sound investment before you sign on the dotted line. Don't look at the home inspection as just another chore that you have to get through in order to get the house – it's an important factor in sizing up the investment you're about to make, and you should take full advantage of that.
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