Opinions needed, sell?

[Brandon Hoffman]

Originally Posted by alsier2004

Is that true for a primary residence? I thought it was just for investment properties?
*Disregard...just saw SpottedNikes post.

Capital gains is charged on all sales regardless of property use. Eligible owner occupants get an exemption of up to $500,000 for married couples. 10-31 is the capital gains tax deferment for investment properties by purchasing a like kind investment with the proceeds from the sale.

[jaxrivers]

I draw the line at long commute...unless it's unavoidable and I'd starve before doing it again.

GET YOUR LIFE BACK, all we really have in the end is time. This also applies to minimalism FWIW. Get rid of the mental checklist stress.

Life doesn't just boil down to the most clever math problem solutions, although of course be prudent with your money.

How's that for two platitudes at once lol.

[gypsychic]

Originally Posted by Listener2307

I have a friend in Wash state who bailed out of the rental business because all the laws favor the irresponsible tenant. He found very quickly that the more irresponsible the tenant, the more they understood the laws.


I'd sell it.
OR
I'd keep it and buy a pied a terre in the form of a one bedroom condo and use that during the week. I've seen that work well in NYC and it may work where you are. If both properties continue to appreciate, well, good for you. And you always have your nice home to go to.

I would go with this ^^^ if you can swing it. Otherwise keep it and commute.

You do not want to take a chance renting out that home, believe me.