Do you own a home in College Station? If so, have you thought about what selling it could mean for you and your family? If you feel stuck in a house with bad condition, or if you simply have a property you want to sell quickly, think about the benefits a fast sale can offer you!
There are all kinds of things you can do with the extra cash you get for your College Station home. Paying off debt and reinvesting into something more lucrative are just the beginning!
Below are our favorite ideas for reinvestment!
Buy a New House!
You can use the money you receive from your current property and invest it in a property you’ve always liked. You can benefit from the 1031 exchange, which allows you to avoid paying capital gains tax for a property you sell, as long as you reinvest it in a similar property. Theoretically, you can sell a condo and buy a different one without paying tax. There are certain restrictions to this, such as you will have needed to live in the house for the past 2 out of 5 years. You can get creative with this too. Sell a residential home, and swap it out for something you can live in, but also has additional space to rent out! Before you go ahead with a sale, be sure to fully understand the requirements involved in 1021 exchange. Reinvesting in real estate you love can be a game changer! Both financially and for your overall happiness!
Start A Business
If you’ve dreamed of starting your own business, but haven’t been able to, selling your College Station house can help you turn that dream into a reality! That old, worn-out house you have can actually be the means for you to start off your business. For many businesses, start-up costs can be pretty low. Selling your house can give you the cushion you need to start your business with confidence!
Go to School
You can also invest in yourself. It is never too late to learn a new thing, and your age doesn’t matter. There is no particular age range you must fall into before you can start your academic journey. By using the money you get from selling your house, the reward will be greater.
Travel the World
When people get old, one thing that many people regret is not travelling more. Travelling the world at this time is perfect. You can use the money from the sale to have an adventure. The memories you make will be irreplaceable.
The Stock Market
To get started, you don’t need to be a top stock broker. A small investment can quickly grow into something more valuable. If you are new to investing, we advise working with a professional until you understand what you are doing. The stock market can be very risky, so do not invest beyond your means.
Buy Yourself a Toy
We do not encourage reckless spending, but indulging yourself once in awhile can make life more fun. Imagine having a new boat, jet ski, or camper. It’s about the memories you will make, not just material possession. Having something fun you and your family can enjoy will create a lot more memories than an old, run-down College Station house! Be responsible, but don’t forget to have a little fun too!
Are you ready to sell your College Station home? We are ready to help you with a solution! Send us an email or give our office a call today! We can’t wait to talk to you! (979) 431-1663