Mom and I are both getting lots of those pieces of mail where someone wants to buy our houses. And they make it sound attractive. Sell as is, no realtor so no fees there, easy peasy.
For Mom there is the cap gain rules to think about. The last I checked you had to live in a house two out of the last five to get away from owing cap gains. Another year and she is at that point. We do not want to pay cap gains when we need that money to pay for her care. So it is something I am starting to think about.
That said.....we live in her house. So we have to move when that time comes. And so I am still constantly on the hunt for our next place to live. I really don't want to move back to an apartment. And I'm not sure we can afford one that isn't a complete dump.
So when these little fliers come in the mail I think about it. If I sold it I would still have quite a bit left even after paying my cap gains. I could buy a mobile home and still have a good chunk of the money left to supplement my income.
But then I think maybe I could just get a mortgage and keep the rental house as it is income coming in every month. Ahhhhhhhh. So I keep looking and I keep thinking. And in the mean time I do nothing because the income does come in every month.
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