Contribute Your Home

When you give your home to Homestead, you are helping future generations realize their dream of homeownership through expanding the number of affordable homes in our area. By doing this, you are also creating a place of stability and joy for many individuals and families over the course of your home’s lifetime.

Ways to give:

• Outright gift: As an outright gift, you can avoid capital gains taxes and take a charitable deduction on the fair market value of the property (up to 30% of your adjusted gross income per year).

• Gift with retained life estate: Want to turn your home into a land trust and keep on living there, too? When you make a gift with retained life estate, your property will be transferred to Homestead without going through probate upon your death. This type of gift is eligible for tax deductions calculated at the time the gift is given, based on current interest rates and the donor’s age. A gift with retained life estate may also give you property tax advantages because homes in Homestead’s portfolio are assessed based on the resale formula value rather than the full market value of the property.

• Bequest: A bequest is another way to donate your property to Homestead while continuing to live there. You retain all rights to the property during your lifetime, and the property is transferred to Homestead upon your death. This arrangement decreases the tax burden on the inheritors of your estate.

Please be sure to speak with your tax advisor when considering a gift of real estate.

To learn more, contact Sheldon Cooper at 206.323.1227 ext. 113 or email: Sheldon@homesteadclt.org.