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Practical Money Matters Radio Series

September 30, 2013
Selling Your Home? Avoid These Mistakes


Understand what factors could reduce the value of your home and learn about suggestions for improving its marketability.

Transcript

If you're planning to sell your home, research the tax implications. For example, learn whether you can or cannot deduct a home sales gain from your taxable income.

You should also be aware of the flaws in your home and neighborhood that could impact the sales price. Factors such as busy streets, subpar school districts and incomplete remodeling jobs can drive away potential buyers.

But making a few minor changes can boost your home's marketability. Repaint walls with a neutral palette. Have your home professionally staged. Tend to your yard to improve curb appeal and work with your neighbors to report problems like vandalism that can decrease property values.

Bottom line: Understand the tax implications of selling your home and make key improvements that will help it sell more quickly and for more money.


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