Appreciated value can be a bit misleading. For one if you sell your house for more than you paid for it then you pay tax on the capital gains. As well not just your house has appreciated but the whole market as well so when you go to buy a new place you'll be paying current ie. higher market prices. Of course if you bought the place as an investment then that's not relevant.
I'm not saying there isn't a benefit but I am saying that it's very possibly not as great as people assume.
Appreciated value can be a bit misleading. For one if you sell your house for more than you paid for it then you pay tax on the capital gains. As well not just your house has appreciated but the whole market as well so when you go to buy a new place you'll be paying current ie. higher market prices. Of course if you bought the place as an investment then that's not relevant.
I'm not saying there isn't a benefit but I am saying that it's very possibly not as great as people assume.
You keep rolling over the profits into the next house. You get a one time sale where you can take the profit tax free. Usually when you are retired and downsizing or moving to a lower cost area.
You keep rolling over the profits into the next house. You get a one time sale where you can take the profit tax free. Usually when you are retired and downsizing or moving to a lower cost area.
Will the appreciation outpace (((inflation)))?
Will the appreciation outpace (((inflation)))?
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