• If your mortgage balance is less than the price of your home, mortgage interest is 100% tax deductible.

• Real estate property taxes paid on your primary residence (and in most cases, on your vacation home) are 100% deductible for income tax purposes.

• If you are a first-time homebuyer with an IRA, you may also be able to apply a portion of your IRA to the purchase of your home with out penalty.

• If you have lived in your home for two of the past five years, you can exclude from capital gains on the profit from the sale of your home up to $250,000 for an individual or $500,000 for a married couple, without restriction as to your age.

• You can exclude the above capital gains thresholds from taxes every 24 months, which means you could sell your home every two years and pocket the profit (subject to the limitations above) tax-free every time – serial renovators, take note.*

*Consult with your tax or financial advisor for details.

• Tell them the advantages of moving (new sports, a better school, entertainment)
• Be prepared for negative reactions. Give them a chance to express their feelings and be honest about your own feelings. Gently tell your children about any sadness you may feel about leaving or uncertainty about a new home, job or city. This helps reassure them that they aren't alone in having worries or concerns.
• Give them some influence and control over some aspects of the move. A toddler can "pack for a teddy bear" or "help" you do serious packing.
• Don't overload young children with unnecessary details.
• Make a scrapbook containing pictures of your current home, friends, and other mementos of your life together.
• Help older children prepare a list of phone numbers and addresses of close friends, relatives, and other important people in their lives. Knowing they can stay in touch is an important part of a successful move.
• Include children in a preview trip, if possible. Explore the new neighborhoods, schools and town together.
• If the children can't be included in the homefinding trip, take pictures of your new home, the schools they will attend, parks, and other facets of the new location that will be interesting to them.
• If you can, try to meet families in your new neighborhood before you move. Being familiar with people when you move in will help your children feel more at home.
• Set aside time each day during the relocation to sit down and talk/read/play with your children.
• Allow children to maintain contact with special friends after the move. This can include having friends from the old neighborhood come visit if distances are short, or allowing your child to call friends in your old location periodically. Encourage them to write or e-mail their friends.