| As the grace period for the capital gains tax on multiple homeowners approaches, the concerns of multiple homeowners are deepening. If they hold onto their homes rather than sell them, the capital gains tax burden will increase significantly after the reinstatement of the capital gains tax. The possibility of a property tax increase is also being discussed, further complicating the decision. However, choosing to sell is no easy task. Having already enjoyed significant profits from rising housing prices, it's difficult to give up the potential for further appreciation. Under the land transaction permit system and the lease renewal application system, it's also difficult to freely dispose of a home at a desired time. Mr. Kim, who owns homes in Gangnam and Dongjak-gu, recently put his Dongjak-gu home on the market. He's worried about the burden of monthly mortgage interest, which can reach millions of won, and the potential transfer tax of approximately 500 million won if he sells after the end of the tax deferral period. However, despite the property being on the market for quite some time, no one has come to view it. This is because, in land transaction permit zones, only buyers intending to actually live in the property are permitted to trade. What's important now for multiple homeowners is not vague anxiety, but realistic calculations. They need to comprehensively consider their current financial situation, the difference in capital gains tax before and after the end of the tax deferral period, the loan interest and property taxes they will have to pay during the holding period, and any potential additional tax burdens. To avoid the capital gains tax on multiple homeowners, the balance must be paid by May 9th. Therefore, if you choose to sell, you don't have much time left. Ultimately, any choice carries costs and burdens. Multi-homeowners should closely monitor market trends, critically assess their financial capabilities, and assess their tax burden before making a decision. If necessary, it's time to consult a tax expert for more prudent decisions. Check the listing: www.remax.co.kr
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