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..

[FrustratedVuncle]

1 hour ago, ARYA said:

4500 ante with property taxes kalipesadu anukunta..

property tax & insurance 2000/mo tesisna 2500 just for EMI on 2.5% interest rate is around 

 

• EMI depends on interest rate + tenure + loan amount

• At 2.5%, the difference between 20 vs 30 years is huge

If you want a quick estimate, here are common scenarios for $2,500 EMI at 2.5%:

If tenure = 30 years

• Monthly rate ≈ 0.002083

• Loan amount ≈ $790,000 – $800,000

 

Loan amount 800k ante 1M home. 

My guess in uncle oka 550k tho koni untadu, which was very common in 2018. Ipudu equity pull out cheddam ani ammithe anukunnatha migalaledu ani ee crying video mana medaki vadili untadu.

2018 home ki foundation issue & 60k repairs endi vaadi bonda. 
Selling home just because of job fear and buying a new home at higher interest rate is pure stupidity. Vadu ammi aa paisal S&P 500 lo padesi rent ki unte script would have been strong. 

[paaparao]

1 hour ago, ARYA said:

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

only if that amount is reinvested into primary home.

[ARYA]

4 minutes ago, paaparao said:

only if that amount is reinvested into primary home.

thats for investment property not for primary residence 

[ARYA]

29 minutes ago, FrustratedVuncle said:

property tax & insurance 2000/mo tesisna 2500 just for EMI on 2.5% interest rate is around 

 

• EMI depends on interest rate + tenure + loan amount

• At 2.5%, the difference between 20 vs 30 years is huge

If you want a quick estimate, here are common scenarios for $2,500 EMI at 2.5%:

If tenure = 30 years

• Monthly rate ≈ 0.002083

• Loan amount ≈ $790,000 – $800,000

 

Loan amount 800k ante 1M home. 

My guess in uncle oka 550k tho koni untadu, which was very common in 2018. Ipudu equity pull out cheddam ani ammithe anukunnatha migalaledu ani ee crying video mana medaki vadili untadu.

2018 home ki foundation issue & 60k repairs endi vaadi bonda. 
Selling home just because of job fear and buying a new home at higher interest rate is pure stupidity. Vadu ammi aa paisal S&P 500 lo padesi rent ki unte script would have been strong. 

looks like it, 2018 lo 4500 sqft homes piccha cheap ga vacchinai aa areas lo 

[FrustratedVuncle]

2 minutes ago, ARYA said:

looks like it, 2018 lo 4500 sqft homes piccha cheap ga vacchinai aa areas lo 

2018 lo above 3000sqft homes came for $125-150/sqft in texas

[paaparao]

46 minutes ago, ARYA said:

thats for investment property not for primary residence 

even primary home too. it is called 1031 exchange.