Here's the Big News!

In a move that’s shaking up real estate conversations across the country, the U.S. Senate has passed sweeping tax reform legislation packed with real benefits for homeowners and buyers. And yes—if you’re in Hampton Roads, Virginia, this affects you in a big way.

With support from the National Association of REALTORS® (NAR), five huge real estate priorities made it into the final bill. These changes are designed to make buying, selling, and investing in property more financially accessible and attractive—especially for everyday professionals.

Whether you're thinking about buying your first home in Chesapeake, refinancing in Virginia Beach, or selling a family property in Norfolk, here's what you need to know:  

🎥 Prefer to watch instead? Check out our quick video breakdown of the 2025 tax changes for Hampton Roads homeowners:    👉 Watch it here on YouTube

Top 5 Real Estate Wins That Could Benefit You

1. Lower Tax Rates—For Good
   The bill locks in lower individual income tax rates permanently, putting more money back in your pocket. Translation? Greater affordability and buying power.

2. Bigger Business Tax Breaks
   Independent contractors and small business owners (hello, self-employed buyers!) now get a permanent boost through Section 199A deductions—meaning 20% savings stays in play.

3. SALT Deduction Cap Quadrupled (Temporarily)
   State and Local Tax (SALT) deduction limits are getting a massive five-year boost. This is a game-changer for higher-income earners in cities like Hampton or Suffolk.

4. Mortgage Interest Deduction = Safe & Sound
   You can continue deducting mortgage interest on your taxes. This longtime homeowner favorite is now permanently protected.

5. 1031 Exchanges Stay Put
   If you're selling an investment property and reinvesting, this handy tax deferral tool is still in the toolbox. Great news for investors across the Peninsula and Southside.

 Why It Matters in Hampton Roads, Virginia

Hampton Roads Realtors know: our market has a mix of first-time buyers, military families, seasoned investors, and growing households. This tax reform touches every one of those groups:

• First-time buyers can save more money up front.

• Growing families benefit from an expanded Child Tax Credit (now $2,200, indexed for inflation).

• Estate planning? The estate tax threshold is set at $15 million—helping generational wealth stay in the family.

• Investment zones (like parts of Portsmouth or Newport News) are getting fresh incentives to drive neighborhood growth and equity.

 The Bottom Line

Real estate drives nearly 20% of the U.S. economy, and these tax reforms recognize the importance of homeownership and housing investment. They offer real tax relief, new opportunities, and long-term security—for people like you.

So, if you’ve been on the fence about buying, selling, or investing, this could be your moment. And you're not alone—local Hampton Roads Realtors like our team are here to help you navigate the changes with confidence.

👋 Let’s Connect!

Whether you’re planning ahead or ready to jump into the market, we’re here to walk with you through the financial side of real estate with clarity and strategy.

📲 Ready to take the next step in your real estate journey? Let’s connect.  You don’t have to do this alone—we’re in your corner, every ZIP code of the way.