With today's increased housing demand and the low supply of housing inventory in places like New Jersey, New York, and Pennsylvania (housing supply is averaging about 2-3 months), now may be a good time to consider selling your house.
If you're on the fence about whether the sale of your home is a change you're ready to make, consider these signs as you weigh your options:
Major Life Changes:
A new job, a new addition to the family, family members leaving the house are all lifestyle changes that require living space changes
Tax Free Capital Gains:
As hous prices increase there are opportunities to take advantage of tax free capital gains, $250,000 (single) or $500,000 (married), if the home has been your primary residence. Speak with a CPA for details and contact me for more information on the capital gains tax exclusion .
The current market offers an opporunity to cash in on your investment if you purchased your home when prices were lower. If you're in the market to trade up to a larger space now may be a good time to "sell high."