Category: House & Home Improvement

What you need to know before buying a flipped home

The business of house flipping looms large in the American public imagination. Between reality television shows about the practice to infomercials promoting it as a get-rich-quick scheme, nearly everyone is familiar with the concept of buying, renovating and quickly reselling real estate at a profit.

But is house-flipping a good deal for those who end up moving in long-term? And if you’re looking to buy one, how do you know if the pretty house with new paint and granite countertops is a great deal or a lemon?

“There is nothing wrong with buying a flipped house,” said Chris Egner, a

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Tax Tips: Sell fixer-upper houses and pay no taxes | Rogersville

You can avoid paying income taxes on the gain of a fixer-upper house. This strategy involves taking advantage of the tax-free gain on the sale of a home. For people who love to work on houses, this can be a great way to make money and pay no taxes.

This strategy requires that you live in the house for 2 of the last 5 years. The tax-free gain is up to $500,000 for couples and $250,000 for singles. The tax-free gain is a lifetime gain. As an example, if you are married, you could sell 5 houses with gains of

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Southern Living Idea House – The VOICE

Photo by Laurey Glenn.

The magazine’s first Idea House in Kentucky presents timelessly evolved inspiration

 

By Sarah Carter Levitch
Photos by Kathryn Harrington

 

For the past 30+ years, Southern Living magazine has designed and constructed an “Idea House” in various states throughout America. “Made to inspire people that are considering building or remodeling, or for people who love houses and love going to see inspirational types of design, both interior and exterior,” noted builder Jimmy King, co-owner of Artisan Signature Homes. The house is open to the public for tours and available to purchase, with or without the furniture. The

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Many Mississippi Delta houses are in need of repair. Here’s how one woman’s renovation dream came true.

Rory Doyle is a freelance photographer based in Cleveland, Miss. This photo essay is set in Leflore County (population 28,000), which has one daily newspaper, the Greenwood Commonwealth.

In early August, Gloria Jean Lewis, 61, walked into her completely remodeled home in Greenwood, Miss., with a huge sigh of relief.

She has lived in the house since 1998. But years of decay led to countless issues: a collapsing roof, bad plumbing, sinking floors, no central air conditioning and heating, inadequate wiring. Because she meets the U.S. Department of Housing and Urban Development’s standards as a long-term and low-income resident,

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