DC METRO REAL ESTATE

Serving the Real Estate needs of the communities of Manassas, Bristow, Haymarket, Warrenton, Gainesville and Culpeper  in Northern Virginia


Dave Scardina  
Broker / Owner

703-829-SOLD

866-909-0900

Facts About Bristow Homes / Buy and Sell Wisely

Bristow Real Estate...Homeowners Insurance


Bristow real estate Insurance costs can vary by hundreds of dollars depending on the insurance company from which you buy your policy. There are different types of policies that differ in the amount of coverage they provide. The most popular type is called HO-3. This kind of policy offers Area property protection and liability insurance. Bristow real estate or property protection means that you will be reimbursed for losses or damages to the house and its contents. Liability Insurance protects you against personal liability, medical payments for injuries to others and damage to other peoples property. There are policies with more extensive coverage and are usually called deluxe or executive policies. If you do major remodeling to your home, make sure you upgrade your coverage. If you have an office in your home, you might want to consider special insurance for your computer equipment.

Bristow Real Estate Cycles


What makes most sense is the "buy and hold" strategy. Buy a home you expect to remain in for at least seven years or more. Bristow is no different than most, although the Bristow market does have it's own special circumstances.

Want to get a clear and up-to-date picture of the Bristow real estate market? Call me at any time. I am happy to share my knowledge of the real estate market with homeowners and prospective homeowners who want to take advantage of market trends to buy and/or sell wisely.


Choosing Your Bristow Neighborhood


Youve probably heard about the three major determinants of Bristow values are: 1) location, 2) location and 3) location. This is not only true about real estate in Bristow; it is true about real estate in general. If you cannot afford what you want where you want it, give up something inside the house rather than settling on a lesser location.


The Benefits of Selling Bristow


If your Bristow holdings consist of both a personal residence and a rental, you can sell your personal residence and exclude up to $250,000 ($500,000 for a married couple) on the gain. Then you move into your rental, live in it as your personal residence for two years and then sell it, again benefiting from the $250,000 or $500,000 exclusion. This is true even though most or all of the increase in value occurred before you converted the property to your personal residence.

What Makes Bristow Sell?


If your only reason for selling your Bristow is for the purpose of taking your profits there are a couple ways to approach this. Assuming you have lived in the Bristow for two years so you can avoid federal tax consequences, if you sell when prices are high and rent until prices come down before buying a replacement home, you will have maximized your profit. Remember, if you sell when prices are low, you will still make a profit and be able to buy a replacement home while prices are still low.

Bristow DEPRECIATION


Depreciation is the loss of value of a building or an asset due to wear, tear, and aging. Depreciation cannot be applied to your personal residence unless you use your Bristow in some way for business. If you do depreciate a part of your home, let's say a home office, there are tax consequences you must consider when you sell your home.