What Is The Meaning Of Homestead?
A property that is homesteaded means that the owner currently lives in that home and it’s their primary residence, which you can only have one primary residence in every state.
And so any other properties that you own will allow you to have a non-homesteaded, which means that you’re pretty much you’re going to pay around 30% more in taxes to keep in mind.
And I want to say that is to make it so that people that want to own homes to live in them have a more opportunity than people who are buying for investment purposes.
And so if you have any questions, please leave a comment below. Please share with anyone you think it’d be helpful to and as always, close with Patrice.
This has been “What Is The Meaning Of Homestead?” by Patrice Henderson of Designed Living Real Estate. Be sure to subscribe to her YouTube channels for all your real estate tips, home tours and advice.
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