Most people buy a home with the intention of staying there, but things change.
Selling a house is as common as buying one. Just as there are numerous options and strategies for purchase, the same holds true for selling. It is subject to both federal and state capital gains taxes, which generally are at a tax rate similar to what is assessed on the individual's income. The best thing for a potential home buyer to keep in mind is that at some point in time he or she will eventually become a home seller. This means accurate record keeping must be kept from the day the house is purchased.