The Perfect Holiday Gift

Give A Home To Your Son or Daughet

The Holiday Season is here and what a better way to celebrate it by giving. Why don’t you give the gift of a down payment for a house to your Child?

You and your spouse are allowed to give a total of $26,000 or porperty a year to whoever you want tax free for you and for your recipient. That is $13,ooo from you and $13,000 from your spouse.

What does this mean to you Child?…

This gift could help him or her qualify to buy a home and take advantage of the federal government’s tax credit – recenlty extended till June 2010. 

Another gift idea could be to sell your house to your child, so you can upgrade your home.  If you son or daughert wants to buy your house it will be better to gift some of the equity in the house rather than cash. Keep in mind that this will include more leagal paper indicating that you are giving your child a gift and do not expect to get paid back – it is a gift not a loan.

Click here for more ideas to give a house to your child this holiday.

To search for our property inventory go to www.AtTheBeachPanamaCity.com

JohnMoran

John Moran, an award winning realtor at Keller Williams Realty, specializes in investment properties including beach front condos, second homes and residential land. He ranks in the top 1-1/2% of all realtors in the MLS for sales in 2007, 2008 & 2009. For more information about Destin Area real estate including Destin Foreclosures call or text John Moran at 850-217-7618.