Downsizing Your Home? Stay Away From These 8 Crucial Mistakes

Disregarding taxes

If you thought it through and decided to downsize to another state, don’t forget about real estate taxes. Depending on each state, these may be different. If your decision to move to a different state was influenced by the prospect of saving money, disregarding such taxes is one of the biggest mistakes.

In addition, if you currently live in a place where home values have increased considerably in the past years, it would be wiser to stay put instead of selling your house and paying significant capital gains taxes.

Whatever you decide, just make sure you make an informed decision!

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