A friend of mine that we grew up together in my hometown put his home on the market this year.


Sale price: $520,000.
Real estate commission: about $31,000.
Taxes on the gain: roughly $72,000.
Closing costs and other fees: another $14,000.
After decades of mortgage payments, maintenance, repairs, and all the selling costs, the amount he actually walks away with is far less than most people imagine.
The hardest part?
Moving into a smaller home barely saves him anything because prices have climbed everywhere.
Staying is expensive.
Leaving is expensive.
For many longtime homeowners, the house that was supposed to provide financial security now feels like a financial trap.
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