In this video, we talk about why converting your primary residence into a rental property might not be a good idea. While the benefits of rental income, appreciation, possible tax advantages, and temporary moves may be valid reasons to consider, we also don't want to forget the potential loss of a capital gains tax exemption. Selling a primary residence can provide tax-free gains of up to $250,000 for individuals and $500,000 for married couples, which can be reinvested for further growth! Check out this video and consider the long-term advantages of selling and reallocating funds rather than converting your primary residence into a rental property.
Here's what the IRS has to say about the tax-free sale of a primary residence - https://www.irs.gov/taxtopics/tc701
Thinking about buying or selling a home in the Seattle/Bellevue area soon? Please don't hesitate to reach out! People like you regularly contact me about their real estate goals after discovering me on YouTube. I'd love to bring value to your home buying or selling experience too!
Here are a few reviews from people who discovered me on YouTube:
Kit and Taryn - https://youtu.be/IXqMn_1ZKGw
Aswin & Aisha - https://youtu.be/OaRYt009uQk
Jaimin & Riddhi - https://youtu.be/TPCfSp89pXk
Contact Zach:
call/text: (425) 343-3661
email: [email protected]
http://mcdonaldresidential.com/contact/
You can learn more about me at the links below:
Website - http://www.mcdonaldresidential.com/
Zillow - http://www.zillow.com/profile/mcdonaldresidential/
Facebook - https://www.facebook.com/mcdonaldresidential/
Twitter - https://twitter.com/zachseattle
Instagram - https://www.instagram.com/mcdonaldresidential/
Google - https://goo.gl/maps/NvgkqngqvZKG8ZrB6
Other links you might be interested in:
Seller Closing Costs & Estimated Net Proceeds - https://youtu.be/xdHGXzYR87M?si=i66GcpmkvRBKK44W
Accidental Landlord | Why Fewer People are Selling Their Homes - https://youtu.be/NXCDkrWA_IU?si=Ft0IKX9hFhSibmny
Steps to Buy Your Next Home: How to Sell & Buy at the Same Time (Move Up Buyer) - https://youtu.be/WjH4cH8fHWU?si=sIcy5nn5id9xLUhb
Home Seller Guide - https://youtube.com/playlist?list=PLTMlhmKUEjtNRFjzqTsjmNRVAyN8azoHk
8 Mistakes Home Sellers Make and How to Avoid Them - https://youtu.be/fpja6NXm9xc?si=-74b3L2JVH1EooOm