4 Signs You Should Keep Renting a Little Longer

4 Signs You Should Keep Renting a Little Longer
·5 min read

If you stay in your home for several years, you can usually make back the transaction costs and break even on the home purchase because ideally your property will go up in value. You can avoid paying capital gains taxes on up to $250,000 (as a single filer) or $500,000 (as a married joint filer) but you must use the home as your main residence for at least two of the previous five years before selling it. If you are planning to move in less than two years, you may want to hold off on buying since you could end up either losing money or paying taxes on gains that you could otherwise avoid.

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