Fortunately, many real estate brokers understand that their clients operate under this constraint. For this reason, you'll need to be ready to close on the new property immediately after selling your old house. This reinvestment must be made quickly: If you wait longer than 45 days before purchasing a new property, you won't qualify for the tax break. In order to take advantage of this tax loophole, you'll need to reinvest the proceeds from your home's sale into the purchase of another "qualifying" property. Depending upon the applicable capital gains rate for your income bracket, this could increase the value of the sale's proceeds by as much as 40 percent. In certain situations, you may be able to sell a home without paying capital gains tax on the profits. However, there may be exceptions to this rule. To write off a loss, you'll need to subtract its value from your total taxable income. By contrast, you must be prepared to write off any loss that you take on the sale of such a property. View information and real estate listings in other Idaho communities.Ĭontact The Hughes Real Estate Group for more information or to view Idaho homes: (208) 571-7145.If you turn a profit on the sale of any residential or commercial property that you own, you must be prepared to pay capital gains tax on it. Click to search Homedale homes by neighborhood or subdivision.
#HOMEDALE HOUSES FOR SALE PLUS#
Another huge plus for the community is the very affordable homes for sale in Homedale and many with breathtaking views of the Owyhee Mountains. Don’t forget the exciting development of the Idaho wine industry with 15 vineyards in the area. The local orchards grow apples, cherries, peaches and pears. Homedale historically has enjoyed a prosperous agriculture industry that features corn, wheat, alfalfa, sugar beets, and onions.
Hughes Real Estate Group team members can provide detailed real estate market information. The surrounding Treasure Valley is comprised of Boise, Meridian, Eagle, Nampa, Kuna, Caldwell, Middleton and other communities with an estimated total of over 585,000 inhabitants.
Additionally, Homedale has its own school district that offers quality learning experiences for all students. Other fun activities in the area include the Owyhee Lake Reservoir, Givens Hot Springs and Jump Creek Canyon. Within a short distance, you can explore the Owyhee Wilderness Area with tens of thousands of acres of protected public lands. There are many exciting recreation opportunities with an abundance of boating, hunting, fishing, sports leagues, parks, tennis courts and a city swimming pool. In Homedale, you will find amenities you would not necessarily expect in a small rural town with a population of approximately 2,500. Save your searches, bookmark favorite properties, and receive emails with new properties entering the market that match your criteria. Register now for 24/7 site access to Homedale MLS listings. Facebook icon will open a new window Twitter icon will open a new window Instagram icon will open a new window LinkedIn icon will open a new window YouTube icon will open a new window
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