New developments seem to pop up every day in our area. Many of these developments allow you to purchase a lot and build a home on it. I can help you find the lot you are looking for and then help you find the right builder for that home that you've been dreaming about.
There is also plenty of new construction just waiting on a homebuyer. I can help you sort through those choices as well.
There are a multitude of builders operating in Montgomery County. They range from national builders operating all over the country to small local builders who may only build one or two homes a year. And the quality of homes vary from very good quality construction to poorly built construction.
In 2003, the Texas Legislature passed House Bill 730. The bill created the Texas Residential Contruction Commission (TRCC) and required a builder to stand behind its product. A builder must warranty its home for 10 years for major structrual components, 2 years on the mechanicals (plumbing, electrical, heating, air conditioning) and 1 year for workmanship and materials. And all builders and inspectors have to register with the TRCC. However, keep in mind that the warranty is only as good as the financial strength of the builder. That's why it's desirable to choose a builder with significant financial strength or one that backs its product with a TRCC approved 3rd party 2/10 warranty. In that case, the warranty company has to step in and make any needed repairs.  It's my job to know EVERYTHING about Lake Conroe, Conroe, Willis and Montgomery! Ask me any question. Or request a FREE information package. There's no obligation, and I promise to get back to you quickly...
Tax Considerations >Tax Implications of Selling Your House Most of my clients profit from selling their homes, and they often have questions about capital gains tax.
When you sell your primary residence, you are not taxed on your profit if (1) you have lived in the home for two out of the last five years and (2) your gain does not exceed $250,000 as a single taxpayer or $500,000 as a married couple filing jointly. Gains above these limits are taxed at the current rate of 15% for higher income taxpayers and 5% for lower income taxpayers. In 2008 the 15% rate will continue for higher income taxpayers; while the 5% lower income rate will drop to 0% for the 2008 tax year only. On January 1, 2009, the long-term capital gains tax rates will once again be 15% and 5% through 2010.
Homeowners can use this tax-free provision every two years. As set forth in the American Job Creation Act of 2004, properties converted from a 1031 exchange property into a primary residence must be held and used as a primary residence for at least five years to qualify for the tax exemption.
Consult your tax accountant for more detailed information regarding your particular circumstance.
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In what real estate market are more than 90 percent of home sales cash transactions?
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| A |
Palm Beach, home to princes, politicians, and CEOs, has homes from 2,000 sq.ft. condos to 56,000 sq.ft. estates. |
 See More Real Estate Trivia > |
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