So, your home value went through the roof. You sell. Make some money. Buy another house with an inflated price. Unless you’ve downsized, are you ahead?
Unless of course you sold out to liberals that are colonizing your nice city/town and you’re heading far, far, far away from them. I get that.
It was a good time for empty nesters and retirees ready to downsize. Yes.
“Unless of course you sold out to liberals that are colonizing your nice city/town and you’re heading far, far, far away from them. I get that.”
Exactly what we did 3 years ago. We invested the cash we made and have generated $150K so far.
Dependson where you live. If you’re fortunate to have your property taxes locked in at a low tax basis and low yearly increases (i.e. Prop 13 in California), even a downsize could leave you with a higher property tax bill.