Selling House? Here Are 6 Ideas for Reinvestment in Raleigh

Do you own a home in Raleigh? If so, have you thought about what selling it could mean for you and your family? If you feel stuck with a run-down house, 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 Raleigh 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!

Take the cash you receive for your current home and reinvest it in a home you truly adore! You can use the 1031 exchange, which states that you do not have to pay capital gains tax on a property sold if you reinvest in a “like” property. So, in theory, you could sell one condo and buy another without incurring a tax penalty. There are some restrictions, such as the requirement that you have lived in the home you are selling for the last two out of the last five years. You can also be creative with this. Sell a residential home and replace it with something that you can live in but also has extra space to rent out! Before you make a sale, make sure you fully understand the requirements of a 1031 exchange. Reinvesting in real estate that you enjoy can be transformative! Both financially and in terms of your overall well-being!

Start A Business

Have you ever wanted to start your own business? Perhaps it was never the right time, or perhaps the funds were simply unavailable. Selling your Raleigh home can help you realize your dream! The run-down house you’d written off could be the key to your entrepreneurial future! Start-up costs for many businesses can be quite low. Selling your home can provide you with the financial cushion you need to launch your business with confidence!

Go to School

It is never too late to learn something new, no matter how old you are! You do not have to be a certain age to begin your academic journey! Take your extra cash and put it to good use by investing in yourself! The reward will far outweigh any property you could ever own!

Travel the World

There is no better time than the present to travel the world. Many people regret not traveling more when they are older. Take your extra money and go on an adventure! The memories you create will be priceless.

The Stock Market

To get started, you don’t have to be a top stockbroker. A small investment can quickly become more valuable. If you are new to investing, we recommend that you work with a professional, at least until you have a better understanding of what you are doing! It can be risky, so never invest more than you can afford.

Buy Yourself a Toy

We would never encourage reckless spending, but indulging once in a while can make life more enjoyable. Consider purchasing a new boat, jet ski, or camper. It is not only about the material possessions, but also about the memories you will create. Having something enjoyable for you and your family to do will generate far more memories than an old, run-down Raleigh house! Be responsible, but don’t forget to have some fun as well! Isn’t that what life is all about?

Are you ready to sell your Raleigh 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! 984-689-9785

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