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.
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!
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