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Money and Finances
Reply to "Financing home purchase in retirement"
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[quote=Anonymous][quote=Anonymous] Put money into paying off your current home. Then when you sell you can buy the new home within a year (using cash) without incurring any taxes on the money. You won't have to finance the next home so will save money on finance interest charges. [/quote]no you can’t. You get $250k profit for each person. If your house increased by more than that, you have to pay capital gains. [/quote]
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