Consultation: My wife and I have lived in Atlanta suburbs for over two years in a house we bought after execution ...
Consultation: My wife and I have lived in suburban Atlanta for over two years in a house we bought after foreclosure for $105. We are planning to move to Florida. Are debating whether to sell: I estimate we can get 160-170 thousand for it, or rent it: when we lived in the same house on rent five years ago we paid $1050, the mortgage currently includes a total of $660. The consideration in favor of the sale is that if we want to sell after that we will have to pay taxes for long-term profits (capital gains) whereas if we sell now we will not have to (it comes out to a maximum of about $10000 based on a price of 170 thousand)
I plan to implement the profit from the sale to invest close to where we live, thus saving remote management costs, etc.
what do you say?
Thanks in advance
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