Good news: if you have owned your shore house for a number of years, the increased property value is a wonderful “gain”.
However, that profit is taxed (capital gains) when you sell, unless you participate in a 1031 Tax Deferred Exchange.
The rules allow owners of investment properties (vacation rental homes qualify) to move up to another investment property (rental) and defer the tax. Â This is a huge bonus for most long time property owners.
I have both personal and years of business experience with the process. And I can connect you with the professionals to handle the paperwork and help with financing.
Please contact me to formulate a plan!
609-967-7950 Â or ann.delaney@timkerrsir.com
9501 Sunset Drive, Stone Harbor
Bay views! Â 2 bedrooms, 2 baths, and water access from the adjacent docks.
$565,000 furnished.
View the awesome drone video of this bayside condo: Â Video link
I am happy to provide additional information- 609-967-7950  or  ann.delaney@timkerrsir.com
Thank you for your interest!