wanaberetiree
Full time employment: Posting here.
- Joined
- Apr 20, 2010
- Messages
- 718
Hello
We are thinking of buying a second house (unclear what to do with the first one, rent or sell, etc.).
My question is about financing/paying options.
We can pay for it outright. But if we do this we will have ~$140-180K in tax liability for capital gains.
The second option is a mortgage loan, and on current interest rates ~$50K in interest/year.
What would you do?
Thank you in advance!
We are thinking of buying a second house (unclear what to do with the first one, rent or sell, etc.).
My question is about financing/paying options.
We can pay for it outright. But if we do this we will have ~$140-180K in tax liability for capital gains.
The second option is a mortgage loan, and on current interest rates ~$50K in interest/year.
What would you do?
Thank you in advance!