Don't put your primary home in an LLC. You'll lose your homestead exemption and capital gains tax break, pay higher insurance, and likely trigger your mortgage's due-on-sale clause. LLCs work for rentals, not your residence.
If you've been thinking about putting your residence into an LLC, I'd just like to say this to you: Stop that! Yes, an LLC is a good idea to put your rental properties into for liability protection. It is unlikely to be a good idea for your residence. You may no longer qualify for your homestead exemption. You can lose your capital gains tax exemption. It will drive up your insurance cost, and it will adversely affect the kind of financing you can get. On top of all of that, when you transfer your deed into the LLC, there's a very good chance it will trigger the due-on-sale clause in your loan documents. There are other reasons as well, so sign up on my profile page link for my newsletter and find out more.
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