Things to Think About When Selling a Home
There is nothing more stressful than selling your home. During this period of turmoil, homeowners are probably not thinking about the tax consequences of this action. But
due to the sale of home exclusion, homeowners may be in for a pleasant surprise.
For an individual that qualifies, a gain from the sale of their home may be excluded from their taxable income. In order to be entitled to this exclusion, you must meet three requirements. Those requirements are that during the last five years before the date of sale, you must have owned the home for at least two years, and used the home as your main home for at least two years. Thirdly, you cannot have excluded the gain of another home in the last two years. For those who qualify, they are able to exclude up to $250,000, or $500,000, if married and filing jointly. If you are looking to sell your old home and upgrade to a luxury home in St. Louis or St. Charles County, the Tracy Ellis Team can help you do this.
Our team works tirelessly to find the home of your dreams and also apply our expertise of buying and selling homes to abate the stress. Our team of top St. Louis and St. Charles real estate professionals are dedicated to finding strategies for homebuyers to enter the market. The Tracy Ellis team, a top St. Louis luxury realtor, understands what it takes to work with buyers in the luxury home market. We make it our business to stay on top of the latest developments in the St. Louis and St. Charles luxury home markets. If you would like more information on buying a new house please contact The Tracy Ellis Team.
What’s hot in kitchen design?
Though granite has been the go-to countertop for home owners in recent years, according to Realtor Magazine, quartzite is on the rise as a must-have in 2015. Quartzite is a naturally occurring stone and is impossible to damage, giving it a leg-up on quartz, which is manmade. Quartzite is similar in appearance to marble, a very luxurious countertop choice,but quartzite doesn’t stain as easily.
Traditional white-washed kitchens are coming back into style in 2015, but this time around, home owners are using various shades of white, like Honeymilk (Valspar) and Linen White (Benjamin Moore),to enhance their kitchen spaces. Black shades are also a popular unifier in a kitchen design theme for the new year.
In 2015, we’re seeing double. When it comes to appliances, home owners are looking for two of everything. Two refrigerators, two dishwashers, two ovens – two, two, two. With double the appliances, kitchens are more equipped for hosting large parties as well as making the process of cooking and cleaning up after every day mealtime much smoother. Home owners are also very keen on matching their appliances and cabinet colors. Custom-built paneling provides a seamless kitchen from appliances to cabinets in many luxury homes.