Call (253) 999-2371 Paul Chunyk is a Realtor in Tacoma, WA. See our new homes for sale in Tacoma, Washington, and all of Pierce County. Search the Tacoma Real Estate Market - condos, mansions, luxury homes, and more

5 Steps to Take After Selling Your Home

The relief is finally here! You have sold your home and handed over your keys to the next homeowner! The big job is done. However, there are a few more steps you should take to continue to avoid stress in the future and potentially save money.

  1. Save the paperwork from the sale. Any documents that you have regarding the sale, specifically the closing and settlement papers should be kept in a safe and accessible place. When April comes around again, you will need those documents for filing your taxes.
  2. Save the paperwork from home improvements. If you made any improvements to the home in the year that you sell it, save the paperwork for your taxes. The IRS enables you to include improvements to the cost of the home.
  3. Know the tax laws. The laws are continuously changing. It is important to keep well informed and up to date in order to make sure that you do not lose any money. One example of a tax law in California is: a married couple who file joint taxes and have lived in the house for at least 2 of the past 5 years can leave out $500,000 of the profit they earned in selling their home.
  4. Be wise with the money earned. If you do not have plans to buy a home right after you sold the last one, have a safe place planned for your money.
  5. Change all of your addresses. Thirty days before you move, you should switch your home address to ensure that the switch is processed before you actually move.
  6. Buy a new home. Be patient, make sure to go through your options before settling on a new home. Consider the neighborhood, amenities offered, schools, and crime rate. Go through your finances again. If anything has changed, make sure to re-evaluate how much you can afford. Find a real-estate agent to help you through the process. This could be the same real-estate agent that helped you sell your home or a different one. Come to an agreement, make a down payment, and the new home is yours!

Contact Paul Chunyk

Reach out to me, I would love to give you more details and get you headed in the right direction to accomplish your goals.

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