What are the concerns when buying a new primary home, and keeping other as 2nd residence?
May 15th, 2009 | by Kert |
CarolinEO asked:
I own a 2bd/ba condo in a ski town. I bought it in Feb of 2005. Because of circumstances way beyond my control, I have to move away, perhaps indefinitely.
It is possible that I will return in a year, or find that over the next 12 months I have to sell. At this stage, the investment is increasing at 7% a year. I expect that trend will continue for the next 15 years, or longer.
I will also be moving out-of-state which I know changes some tax or something… From Colorado to Wisconsin
WALTER
I own a 2bd/ba condo in a ski town. I bought it in Feb of 2005. Because of circumstances way beyond my control, I have to move away, perhaps indefinitely.
It is possible that I will return in a year, or find that over the next 12 months I have to sell. At this stage, the investment is increasing at 7% a year. I expect that trend will continue for the next 15 years, or longer.
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I will also be moving out-of-state which I know changes some tax or something… From Colorado to Wisconsin
WALTER
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