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Real Estate
Reply to "Need to figure out if we should stay in our house or sell it - please help me do the math"
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[quote=Anonymous][quote=Anonymous]Sale price minus commission = net sale Net sale minus purchase price minus renovations = appreciation [b]If appreciation > $250k and home <2 years then taxes ye pay[/b] Appreciation minus move cost, title, inspection = move cost Defray by 1% of new home sale price = move cost with net defray New mortgage at new rate total interest Etc. Gimme some numbers and I can do it for you Cost of house Cost of repairs Current mortgage and rate and term Approximate age of mortgage Cost of new house Assumed date when you buy new house Temporary housing plan (if any) [/quote] Wow, if I could make >250k in 2 years on a house, I'd be happy to pay taxes on it...[/quote]
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