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Reply to "Rent current house or sell and invest?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I don't understand why you would not put the proceeds from the sale toward the new house when mortgage rates are 6 percent.[/quote] This. Being a landlord, supervising major renovations where you won't be able to have a tenant (nobody will rent a place while the roof and HVAC are being redone), losing the capital gains exclusion and the homestead deduction...there are easier ways to make money, like having a smaller mortgage payment on the house you live in.[/quote] We are in MD. I thought you were exempt from capital gains if lived in house for >2 yrs and make less than 500K off the house? Also wouldnt we get homestead deduction on new house?[/quote]
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