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Lance in Buena Vista, CO0.002

Most likely we will build an ICF home, and reading Steven from Colorado Springs, CO's entries and many others who have built ICF homes has helped us to no end with our project.
Frank in Columbia, MD

Try one of our new Construction Bargain Strategies for free. Coupon code: CBS. One strategy could save you $1,000 or $10,000 or maybe $50,000 when you build or remodel.


    3-44. Convert your rental to your residence. - Electronic Edition

    3-44. Convert your rental to your residence. - Electronic Edition
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     We had a condo before we built the Riverbottoms house and wanted to sell it, but the market was cold for condos just then. We let it rent for a couple of years and then sold it when there were buyers available. Since we had lived in it for "two of the last five years", all of the capital gain on the condo was tax-free at sale.

     By timing your moves, you could turn this around for your benefit.  If you own a rental property that you want to sell, you could make it your primary residence for two years before you ultimately sell it. It doesn't matter that you spend most or all of the two years on vacation, you are tax-exempt when you sell.

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