Hauseit Blog | Tips for Buying, Selling and Renting in NY and FL

Your NYC co-op is subject to NYS & federal capital gains tax. You may be able to exclude up to $500k in profit via Section 121 exclusion.

Capital Gains Tax When Selling Your NYC Co-op

By Sonja Gosine, Spokesperson at Hauseit® / January 4, 2024

You are subject to both federal and state capital gains tax when selling a co-op in NYC. You may be able to exclude up to $500,000 of gains under the Section 121 home sale exclusion provided certain ownership and use [...]

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The complete guide on the BRRR (aka BRRRR) strategy that's taken over the real estate investing world. Comparison vs other strategies & more.

Comparing BRRR with Other Real Estate Investment Strategies

By Sonja Gosine, Spokesperson at Hauseit® / December 22, 2023

Overview of Real Estate Investment Strategies Real estate investment remains a cornerstone of wealth building and financial strategy for many. It encompasses a variety of approaches, each with its unique blend of risk and reward. Common strategies include buy-and-hold, where

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Example Combined Tax Memorandum Notice. How much are School Board taxes? Ad Valorem vs Non-Ad Valorem taxes & what they mean & more.

Understanding Your Miami Florida Real Estate Taxes

By Sonja Gosine, Spokesperson at Hauseit® / November 9, 2023

On November 1st of each year, the property taxes owed for that tax year are released (both online and by mail). If you pay your property taxes before November 30th, you get a 4% discount for paying early. It's important

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The cons of buying an HDFC co-op include financing issues, high flip taxes, subletting restrictions, building governance issues and regulatory risk.

What Are the Cons of Buying an HDFC Co-op?

By Sonja Gosine, Spokesperson at Hauseit® / October 16, 2023

The cons of buying an HDFC co-op include financing issues, high flip taxes, subletting restrictions, building governance issues and the risk of regulatory changes negatively affecting the value of HDFCs. Click on the sections below to learn more about each

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HDFC income limits for prospective purchasers are not flexible. Eligibility is based on your Adjusted Gross Income for the last two years.

Are HDFC Co-op Income Requirements Flexible?

By Sonja Gosine, Spokesperson at Hauseit® / October 4, 2023

HDFC income limits for prospective purchasers are not flexible. While income limits vary by HDFC, each building must consistently apply its income limit to all buyers. HDFCs which run afoul of applicable income limits risk losing advantageous property tax treatment.

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Buyers of HDFC co-ops are not subject to an asset limit. There are no net worth restrictions for purchasers of HDFC apartments in NYC.

Is There an Asset Limit When Buying an HDFC Co-op?

By Sonja Gosine, Spokesperson at Hauseit® / October 3, 2023

Buyers of HDFC co-ops are not subject to an asset limit. There are no net worth restrictions for purchasers of HDFC apartments in NYC. However, prospective HDFC purchasers are subject to income restrictions at the time of purchase. HDFC income

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How do you value outdoor space vs indoor square footage in NYC real estate? How valuable is balcony vs rooftop vs backyard vs terrace space?

How Much Is Outdoor Space Worth in NYC?

By Sonja Gosine, Spokesperson at Hauseit® / October 2, 2023

A common question that comes up for home buyers in NYC is how much is outdoor space worth? Is it worth as much as indoor square footage, or do you not place any value at all on it? The most

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Need a Roommate Agreement in NYC? How do you draft one, divide utilities, and set house rules? Sample Roommate Agreement & more.

Guide to Writing a Roommate Agreement in NYC

By Sonja Gosine, Spokesperson at Hauseit® / September 11, 2023

Living in New York City is an unparalleled experience, teeming with opportunities and adventures at every corner. However, the city’s high cost of living often necessitates sharing your living space with a roommate. While this can be an enriching experience,

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Tips for sourcing FSBO sellers, expired listings, buying leads, leveraging existing relationships, referrals from ancillary industries & more.

How to Source Deals as a New Realtor in South Florida

By Sonja Gosine, Spokesperson at Hauseit® / September 6, 2023

In the realm of South Florida’s real estate market, the ability to independently source clients is not merely advantageous; it’s a fundamental prerequisite for a sustainable career. While Hauseit offers attractive commission splits (learn more at Hauseit careers), it’s imperative

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What are Citizens assessments? Who has to pay? What if you can't pay an assessment post-hurricane? About Citizens Property Insurance & more.

What if Citizens Property Insurance Runs Out of Money?

By Sonja Gosine, Spokesperson at Hauseit® / August 24, 2023

You may have purchased a homeowners insurance policy from Citizens Property Insurance because you couldn't get comparably priced coverage (or coverage at all) with a private Florida insurance company. So sure, the rates are usually attractive, but is there a

What if Citizens Property Insurance Runs Out of Money? Read More »