Posts from September 30th, 2022

Selling your home upon retirement is a question millions of people grapple with. While it might seem logical to scale down when you retire, is it really the best option? 

There's no "one size fits all" solution for selling your home. Most people will find there are pros and cons to the choice they have to weigh before making a decision.

• Pro: Selling Can Give You Retirement Income
  If you've worked hard to build equity in your house, selling it could be exactly the step you need to take to ensure a comfortable retirement. Plus, if you've been living in the home consistently in recent years, you may be eligible to shield much of the sale's proceeds from taxation. This can be the solution for retirees who find themselves without enough savings.
  
  
• Pro...

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Selling your home soon? As you look at your finances and list your home, it's probably tempting to focus on your potential earnings. However, every real estate transaction comes with closing costs for the buyer and the seller.

You probably already know you're responsible for the agents' commissions, but what about the rest of your closing costs?

Before selling your home, make sure you understand all the closing costs you'll be expected to cover. Here are some common costs that may surprise you:  

1. Pro-Rated Property Taxes
   You're responsible for all property taxes up to the date of the sale. That means if you're selling in July, you need to pay your property tax for the first seven months of the year — not wait until next year to file. Make su...

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