I Sold My House in Dallas

[beerakaya]

 

[jpismahatma]

Why he is showing his cut drawer to public ani

@Jatka Bandi tho discussion

[andhra_jp]

56 minutes ago, beerakaya said:

 

he actually downgraded his house and bought new home with less sqft

[Jatka Bandi]

3 hours ago, jpismahatma said:

Why he is showing his cut drawer to public ani

@Jatka Bandi tho discussion

[paaparao]

3 hours ago, beerakaya said:

 

short version;

he bought 5 bd house in 2018. it did not appreciate much over the years. but Mortgage EMI became heavy burden on his monthly bills. he could not afford it any more. so he sold house in 2024 for 50k profit on which he has to pay income tax. so at the end, he sees house as luxury. now he downgraded to 4bd 2 bath house, for which his mortgage bill is somewhat manageable if job exists continuously and his job skills relevant in market. 

[Agnatavasi]

Don't need to pay tax on the capital gains from a primary residence if they resided for there for 2 yrs in the last 5 yrs.

[FrustratedVuncle]

4 hours ago, beerakaya said:

 

2018 lo konna home ki 4500 EMI ata. Nammable ledu. Everyone refinanced in covid time to 2.5% interest rates, ante 2018 lo ithagadu =~ 1M home teskunnadu. 2018 lo 1M home ante pedda mansion konnatte. Erri hook script okati rasukochadu, he got few points right tho. 

2018 5bed 4bath 3800sqft home EMI is way cheaper than 2024 4bed 2bath 400k home. Laddu lo logic veedu. 

[ARYA]

52 minutes ago, paaparao said:

short version;

he bought 5 bd house in 2018. it did not appreciate much over the years. but Mortgage EMI became heavy burden on his monthly bills. he could not afford it any more. so he sold house in 2024 for 50k profit on which he has to pay income tax. so at the end, he sees house as luxury. now he downgraded to 4bd 2 bath house, for which his mortgage bill is somewhat manageable if job exists continuously and his job skills relevant in market. 

you dont need to pay tax upto 500k profit if you live in it for more than 2 yrs 

[ARYA]

18 minutes ago, FrustratedVuncle said:

2018 lo konna home ki 4500 EMI ata. Nammable ledu. Everyone refinanced in covid time to 2.5% interest rates, ante 2018 lo ithagadu =~ 1M home teskunnadu. 2018 lo 1M home ante pedda mansion konnatte. Erri hook script okati rasukochadu, he got few points right tho. 

2018 5bed 4bath 3800sqft home EMI is way cheaper than 2024 4bed 2bath 400k home. Laddu lo logic veedu. 

4500 ante with property taxes kalipesadu anukunta..