Dialogue

• Selling your house and wondering if you can buy another without using all the sale money? Here's how!
• First up, capitalize on the capital gains tax exclusion.
• You can exclude up to $250,000 if you're single, or $500,000 if married. That's a lot of savings!
• Lived in the house for two of the last five years? You're in luck!
• So, what do you do with those extra proceeds?
• You don't have to pour it all into your next home!
• Use just a portion for your down payment.
• Save or invest the rest—smart move, right?
• Now, let's talk strategy: Sell first, buy later.
• This ensures you have funds ready. No two mortgages to juggle!
• But, temporary housing might be on your radar.
• Prefer a smoother transition? Buy first, sell later.
• This might mean handling two mortgages temporarily, but it's doable!
• How about simultaneous transactions?
• It's complex but possible with the right planning.
• Think contingent offers or rent-back agreements.
• Stay in your home while you secure the next one!
• Quick tip for investment properties: Think 1031 like-kind exchange.
• Reinvest and defer capital gains taxes, but not for primary residences!