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Home Selling in Hyde Park : Real Estate Advice

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Wed Dec 3, 2014
Jim Roth answered:
Good morning - a couple of things - first without knowing more about your specific unit( sq. ft, age, location, parking(y/n), condition of unit and building) it is hard to gauge appreciation. However, the buy,rent and property manage question I would tell you this - if you sell it and you have lived their for 24 out of the 60 months as your primary residence then any capital gains(upto $250,000 individual/$500,000 joint ownership) is tax free... if you rent (again not knowing what the current rents in Hyde Park are) you have the added tax on this income plus the concerns of taking care of the unit. Also make sure you can rent (alot of associations put a limit/restrict the number/percentage of units that can be leased at anyone time. ... more
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