THE TAX BENEFITS!!! When your primary home appreciates in value, you don’t have to pay Capital Gains Tax on the sale of it. If you live in your primary home for at least 2 years total (out of the the last 5 years), and you sell it, you do not have to pay capital gains tax on up to $250,000 in appreciation if your single & a combined $500,000 if you are a married couple. Of course, you receive other tax advantages like mortgage interest deductions, property tax deductions, etc.
If you have any questions about this subject or anything else related to the Cape Cod Real Estate Market, please contact me. Please visit my website, www.SellingCapeCodRealEstate.com, for FREE Cape Cod MLS searching, recent sales, etc.
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