Honolulu (KHON2) – We Buy Houses Hawaii is helping people around the state with a step-by-step process so they can move into their dream homes.
According to the team at We Buy Houses Hawaii, most homeowners on average live in a house for 3-5 years before moving on.
“My suggestion would be to start small, and with something you can afford – but start asap. For instance, if you can save up $12,000, that’s enough for a downpayment for a $350,000 condo or townhome,” says Daniel Kong, We Buy Houses Hawaii.
According to Kong, over time that $350,000 town home may go up to $500,000. At that point in time, residents may have paid off some mortgage as well.
Kong says, “You might walk away with $150,000 now at that point. And here is one of things a lot of people don’t realize. Normallywhen you buy and sell a house for a profit you have to pay a lot of taxes on it. If you lived in that house for two of the last 5 years you get a huge deduction to pay no taxes. That is 250k if you are single and 500k if you are married. I’m not a CPA, so check with your CPA first, but that’s what the IRS says.”
To learn more about the step-by-step process provided by We Buy Houses Hawaii, residents can reach out to them via their website.
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