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Gorgeous Waterfront Home In Weston

by Cheryl Scott-Daniels

Kudos to the architect behind the contemporary design of 20 Hunt Ln in Weston, CT.   He clearly did his homework by studying the almost 3-acre gorgeous waterfront property and taking into account the spectacular and natural surroundings.  By having walls of glass throughout, you really could appreciate this home’s waterfront feature because you will have a front row seat view of Aspetuck river and it’s waterfall.  

While the interior is exquisite, the exterior is what makes this home unique.  With a 12-room house, which was built in 1984, it sits on a 2.80 acre level and sloping property, which has a heated gunite free-form swimming pool and a cabana with a television and sound system.  It also has stone walkways and decks all around- a covered and an open deck with retractable awnings from which to view the river and listen to the mesmerizing water as it flows over the waterfall.

 Living on this gorgeous waterfront home is serenity at its fullest.  No noisy neighbors, no traffic noise, no pollution and no un-welcomed urban disturbances.  It is like being on vacation, allowing the mind calmness and being able to be detached from the stress of urban living.  You can sit anywhere on this lovely home and see the river or amazing views of clear sunsets and sunrise, countless birds flying above your house, will make you experience as if your back yard leads to a word filled with wonders of nature.

Owning this waterfront home also accounts for a significant value in terms of investment. As the waterside property are normally scarce to find, this allows you to retain this home’s value over a longer period as compared to properties in the city hub. Along with its excellent resale value, it can also be used for rental purposes. People want to rent waterfront homes for the same reasons that you want to buy one.

 

For more information or a private tour of 20 Hunt Ln, call me at 203-341-0100.

 

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Housing Decision During Retirement

by Cheryl Scott-Daniels

A couple is planning to tour the United States in a travel trailer during their first few years of retirement. They are going to sell their current home now and purchase another home when they finish their travels.

An interesting exercise is to determine the optimum time of selling the home: now or when they're ready to buy their replacement home.

If they intend on traveling for more than three years, then, it may be a good decision to sell prior to the sojourn to avoid paying taxes on the gain in their home. IRS allows for a temporary rental of a principal residence while still keeping the $250,000/$500,000 capital gains exclusion intact. A homeowner must own and use a home for two out of the previous five years which means that it could be rented for up to three years, but it would need to be sold and closed before that three-year window expires.

If the travel will be less than three years, there is an option of selling now or later. Using the example below, the homeowner sold the home, paid their expenses and invested the proceeds in a three-year certificate of deposit until the replacement home was purchased.

case study retirement-1.jpg


As an alternative, if the homeowner rented the home, not only would they have income, the home would continue to appreciate and the unpaid balance would go down resulting in larger net proceeds. Based on a 5% appreciation and continued amortization of the mortgage, 
the net proceeds could easily be $40,000 more.

case study retirement-2.jpg

Obviously, there are a lot of considerations that affect the decision to sell now or later but in an appreciating real estate environment, being without a home for several years could affect the financial position of the owner in the replacement property. It is certainly reasonable to look at various alternatives before making a decision. Call me at (203) 341-0100 to help you look at the different possibilities and talk to your tax professional.

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