As a landlord, homeowner and real estate agent, I often come across information that the average homeowner/prospective homeowner may not be aware of. Below are a few important tidbits to be aware of:
From the sale of your home, how much will you actually walk away with?
Did you know the IRS affords a significant capital gains exemption (meaning you are exempt from paying taxes on the sale money) for homeowners who have lived in their home for 2 out of the last 5 years? I am not a tax professional, and this should not be construed as tax advice, but worth watching the video and chatting with your tax pro!
Do you have oil heat?
Many older homes are heated by an oil furnace that pulls oil from an underground oil tank. Did you know that if your oil tank leaks, which happened to me, you are responsible for the cost of the clean up (usually at least $50,000?!) PLIA offers free insurance to homeowners with oil heat. Watch for more info