When you sell your home, you can exclude up to $250,000 in capital gains from your income, ($500,000 if you file a joint return with your spouse.) You are eligible for this if you have owned and used the home as your main home for at least two of the previous five years. By slightly modifying how you think about your house and executing strategies to accelerate appreciation, anyone can use this exclusion to build wealth.
Charles Lewis is a REALTOR® in the Austin area. He helps people all over the greater metro area buy and sell houses. Schedule a no-obligation phone call to find out he can help you accomplish your real estate goals faster.