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Mortgage interest deduction is virtually nil on a $40k

Posted on: July 26, 2017 at 09:56:29 CT
tigerdb MU
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mortgage; unless you have significant other itemized deductions (contributions, state taxes, medical), you will utilizing the standard deduction.

One of the benefits of renting w/b parking that $150k you net from the sale of your house, in an investment that will yield a much greater return than a townhouse/condo.

Personally, I would sell & be in no hurry to buy - you're free! Take your time & look around.
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Downsizing prior to retirement....Shack ridicule/input? - 90Tiger MU - 7/26 08:43:43
     what do you want to do?(nm) - cnk ATL - 7/26 09:07:17
          DANCE!!! - hefeweizen MU - 7/26 09:09:24
               he's quite agile for a man of his size - cnk ATL - 7/26 09:19:03
     If you are looking at a 10-12 year range - meatiger MU - 7/26 09:06:50
          have jobs, wife works from home office for a corporation. my - 90Tiger MU - 7/26 09:48:51
               Mortgage interest deduction is virtually nil on a $40k - tigerdb MU - 7/26 09:56:29
                    and live where? (nm) - 90Tiger MU - 7/26 11:07:10
                         Rent - tigerdb MU - 7/26 11:22:18
          Or sell/rent for a 1-2 years and see if the market cools. - tigerdb MU - 7/26 09:11:44
               The only good part of buying today - meatiger MU - 7/26 09:19:58
     Look at it this way... you have no clue what the - bactgr JC - 7/26 09:04:23
          #2 is definitely the big driver and nothing is tying us to t - 90Tiger MU - 7/26 09:50:02
          #4. Houses are selling in less than a week where I live. - catbirdseat MU - 7/26 09:38:58
          Historically, property values rise. There's no reason to - TheWildcat STL - 7/26 09:18:31
               You wanna roll the dice on that, fine. Cash is king and if - bactgr JC - 7/26 10:03:55
               Plenty of reasons - meatiger MU - 7/26 09:21:13
     sell the house then buy a duplex and rent the other side to - lqf2b8 MU - 7/26 09:03:47
     Go slightly bigger than a Tiny Home... talking like 850 sqft - KCT-BoneTiger A - 7/26 09:03:35
          If I owned a tiny home manufacturing company I would - lqf2b8 MU - 7/26 09:13:15
     Sell it all, get on your bicycle and don't stop pedaling(nm) - MidMoBaller4Life MU - 7/26 09:02:55
     I'd stay where I was until I was ready to leave town (nm) - TheWildcat STL - 7/26 09:00:31
          Reasons? (nm) - 90Tiger MU - 7/26 09:50:55
     I was in a fortunate place when I retired early at 52. - Nebraska99 STL - 7/26 08:56:04
          what was asbestos like (nm) - lqf2b8 MU - 7/26 09:01:45
               Itchy. On my first ship we were in the shipyards.. - Nebraska99 STL - 7/26 09:04:03
                    sounds like a real mes-sothelioma(nm) - lqf2b8 MU - 7/26 09:06:05
          1 kid, isn't even dating anyone (yet). He can visit, - 90Tiger MU - 7/26 08:59:50
               Ah, gotcha. Seems like it should be an easy choice. - Nebraska99 STL - 7/26 09:02:49
     My father did the same thing about 10 years ago in - Joeboo MU - 7/26 08:54:49
          Yeah, that's the ultimate issue - can you be happy in what - 90Tiger MU - 7/26 09:01:02
               very isolated life - meatiger MU - 7/26 09:08:59
                    iso doesn't mean we hate people. It means we don't - 90Tiger MU - 7/26 09:51:46
     we just did pretty much exactly that - quantrill MU - 7/26 08:49:51
          I'm just sitting here thinking about how much money you - tigersknowbest MU - 7/26 08:59:54
               I don't have the time to purge everything over a period - - 90Tiger MU - 7/26 09:02:16
                    do it, mother ****er!(nm) - tigersknowbest MU - 7/26 09:03:55
                         let's do a consignment deal. I'll give you all our stuff. - 90Tiger MU - 7/26 09:05:31
                              Nice deal, but I don't have anywhere to put a uhaul full of - tigersknowbest MU - 7/26 09:32:30
                                   and neither do we - get it? :=) (nm) - 90Tiger MU - 7/26 09:52:13
          Just order a 10 yard dumpster and go to chunking stuff out - hefeweizen MU - 7/26 08:55:59
               thats kind of what we did, and it was cathartic. nm - quantrill MU - 7/26 14:33:55
               i'm great at that. my wife is like "these were your dad's" - 90Tiger MU - 7/26 09:02:56
                    I need to improve at that. (nm) - TheWildcat STL - 7/26 09:10:30
     I've become a less is more guy. - Evenflow MU - 7/26 08:49:13
          That's EXACTLY what I want and how I feel. If you don't - 90Tiger MU - 7/26 09:04:12
     My parents downsized and now their house is too small - kmawv8 MU - 7/26 08:48:05
          I like how your parents roll. It's your fvcking time to hos - 90Tiger MU - 7/26 09:07:29
          Yeah that would be my only concern in that situation. If - mizzou541 MU - 7/26 08:51:30
               RE: Yeah that would be my only concern in that situation. If - 90Tiger MU - 7/26 09:07:48
     makes sense. Use the extra money to buy a beach house - hefeweizen MU - 7/26 08:47:20
          we're thinking about that. putting some money per month int - 90Tiger MU - 7/26 09:08:49
          That's a good idea(nm) - mizzou541 MU - 7/26 08:49:50




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