Selling your home can be exciting, but it can also be costly. Real estate agent’s commissions can add up quickly. At Home Avenue, we offer a flat rate fee real estate agent service that helps you save big on selling your home.

Our customers often find the biggest problem they face is what to do with the money they saved from the lower commission and our buyer rebate program. With the money you save using our flat rate fee, the options are almost limitless.

Have Some Fun
It can be tempting to have a little fun. You might find yourself fighting the urge to go on a spending spree. A little splurge won’t hurt, but use caution. While the money you saved from your home’s sale could be used on a vacation, extensive travel may not be the best investment of your cash. You should also resist the urge to blow the money on a new car.

Pay Down Your Debt
A better use of your savings is to spend it on paying down debt. You can significantly lower your cost of living by paying down some of the money you owe on your vehicle. You also may help reduce your expenses by paying down some of your more high-interest debt. Paying off all of your debt and paying down your student loans can help reduce your day-to-day living expenses.

Invest in Your Retirement
You should also think about your savings. This is a great time to pay into your retirement fund. A growth mutual fund provides a much better investment than bonds or money markets.

You could also start an emergency fund, saving back cash for emergencies so that you won’t have to withdraw funds from your retirement savings. Your emergency fund should ideally include enough money to cover living expenses for three months.

Types of retirement accounts:
● 401k or 403b account
● IRA
● Roth IRA
● Health savings account

Save for Taxes
Don’t forget about taxes. You don’t want to end up caught unawares when Uncle Sam comes knocking at tax time. You may have a federal capital gains tax from the sale of your home. You may be able to claim an exemption depending on federal and state laws. Be sure to find out before tax time.

There are typically three criteria for avoiding a capital gains tax:

● You have not excluded capital gains on the sale of another home within the past two years.
● You have owned your home for at least two of the five years prior to selling your home.
● For at least two out of the five years prior to its sale, the home has functioned as your main residence.

Flat Fee Real Estate in Minnesota
At Home Avenue in Minnesota, we understand the complexities of selling a home. We enjoy helping you with the opportunity to save money on your home’s sale. Get started on your journey to increased savings today. Give us a call to for a free consultation at 952-929-7355, or you can message us at info@homeavenue.com.