4 ms·
For $300,000 cash I'd be tempted to do a lot of things, including selling my home. I'd worry about buying another one later. Your market is red-hot BTW, so if
by thatwebdude 9y ago
For $300,000 cash I'd be tempted to do a lot of things, including selling my home.
I'd worry about buying another one later.
Your market is red-hot BTW, so if you feel like a gamblin' man/woman...
- balls187 9y agoUS Tax laws basically force you to invest that $300k into a new home, or pay high gains. Edit to add: The above statement is false.
- arielweisberg 9y agoI thought a bunch of the gains on the sale of a home was tax free if it's your primary residence and you meet other requirements?
- withdavidli 9y agothis isn't true. 250k-500k can be tax free by meeting few requirements (living in the house >2 years). http://www.bankrate.com/finance/taxes/capital-gains-and-your-home-sale-1.aspx http://www.bankrate.com/finance/taxes/capital-gains-and-your...
- deleted 9y ago[deleted]
- danjoc 9y agoAs if home owners don't have a sweet enough deal already? https://www.nytimes.com/2017/05/09/magazine/how-homeownership-became-the-engine-of-american-inequality.html https://www.nytimes.com/2017/05/09/magazine/how-homeownershi...
- irrational 9y agoYeah, except I have 7 kids (6 still at home) and I have to worry about having somewhere for them to live, school attendance, activities/sports they are enrolled in, etc. Plus the rental market is non-existent (anything that becomes available it filled almost immediately). Maybe if I was young or an emtpy-nester...