Choosing Where to Live

If you have owned your home for more than 20 years, you may be familiar with the old rule on capital gains.  Until the law changed in 1997, homeowners over 55 had a one-time chance to exclude the princely sum of $125,000 on the gain from selling their homes.  Everyone else was required to pay capital gains tax on all the profits from the sale.  The 1997 legislation substantially changed the rules.  Now, any homeowner, regardless of age, is entitled to a statutory exclusion on profits from the sale of the family home.  A single individual can exclude up to $250,000 of gain.  A married couple can exclude up to $500,000. 

What is housing discrimination?

Housing discrimination is discrimination against any person seeking to rent a home or to purchase a home or to secure financing for a home or to sell a home on the basis of their race, color, national origin, religion, sex, family status, or mental or physical disability.

Senior Living:  Levels of Care

In addition to nursing homes, there are many senior living facilities with multiple levels of care.  The usual categories are independent living, assisted living, and full care.  People in the independent living section normally have their own cottage or apartment.  They have the option to eat meals in their quarters or in a communal dining hall.  While there is often laundry and maid service, those in independent living are responsible for their own personal care and medications.  Many still drive and do their own shopping.  Apartments often have a call button or emergency button in the event medical assistance is required.

Most individuals desire to live as independently as possible while receiving the level of service or care needed. Fortunately there are many housing options to choose from depending on the level of care needed, eligibility, and budget. One of your best resources for housing options is the Area Agency on Aging.  

What is an HOA?

An HOA is a private association established to govern the marketing, management, maintenance, selling, and leasing of homes within a particular building or subdivision.

This article is intended to provide a brief introduction to the world of HOAs and to shed light on how HOAs use the fine print in real estate purchase agreements to foreclose on Arizona homeowners who fall behind on their HOA assessments.

This website has been prepared for general information purposes only. The information on this website is not legal advice. Legal advice is dependent upon the specific circumstances of each situation. Also, the law may vary from state-to-state or county-to-county, so that some information in this website may not be correct for your situation. Finally, the information contained on this website is not guaranteed to be up to date. Therefore, the information contained in this website cannot replace the advice of competent legal counsel licensed in your jurisdiction.

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