relocating to CHICAGO...help me think through my housing options - Page 2

guiseppewv · 09-28-2009, 07:47 AM

Sorry I didn't see this until now!

Congrats, Cheapie, on the new job!

Congrats, Ray, on the new job!

As far as the rent or buy dilemma, I would rent. It is going to be more of a hassle to buy now and then sell later.

cheapie · 09-28-2009, 10:22 AM

pretty much the only reason i'd buy over renting is the tax deduction i'd by buying. that's quite a bit. and the payments would be lower.

smeakim · 09-29-2009, 08:14 AM

Congrats Cheapie..... Well if I ever make it up to my parents house with my bike in Milwaukee we will have to meet for a ride. Also they have some pretty nice bike tours (road) in Wisconsin.

DarkFury · 09-29-2009, 04:56 PM

Grats on the new job...

For me personally, I'd probably rent if I were only gonna be there for 2 years. Too many hassles with owning just to pull up stakes and move again in such a short period of time.

Markel · 10-02-2009, 08:37 PM

A few years back if you sold your house you only had a number of months (something like 18) to purchase another house or you would face capital gains on the difference between the purchase and selling price of your house (minus costs for improvements). I'm not sure if that's still the case, but if it is it would make buying another house a more attractive option.

guiseppewv · 10-02-2009, 09:45 PM

Quote:

Originally Posted by Markel

A few years back if you sold your house you only had a number of months (something like 18) to purchase another house or you would face capital gains on the difference between the purchase and selling price of your house (minus costs for improvements). I'm not sure if that's still the case, but if it is it would make buying another house a more attractive option.

This is only true if you made a gain on a primary or secondary house AND you did not own the house for more than 2 of the last 5 years. If you owned the house for 2 of the last 5 years and you didn't sell a primary or secondary house in the last 2 years for a gain then you don't have to pay taxes on the gain from the sale. I am pretty sure Cheapie meets these qualifications for his current house.

clutchy · 10-02-2009, 11:26 PM

^ up to $500,000 gain is not payed if MFJ.

guiseppewv · 10-03-2009, 10:42 AM

Good point. I failed to state that. Thank you!

cheapie · 10-06-2009, 09:44 AM

well, it's official. i passed the drug and background checks so i'm in! woohoo!

clutchy · 10-20-2009, 02:10 PM

nice! I told you the cranberry juice would work

Markel · 10-21-2009, 06:02 PM

One nice thing about this move: you have a perfectly good excuse to no longer be a Lions fan. Welcome to BEARS country!

attgig · 10-22-2009, 11:19 AM

I thought you were juicing for your rides. I guess the french didn't conduct the drug tests?

attgig · 10-22-2009, 11:20 AM

Quote:

Originally Posted by Markel

One nice thing about this move: you have a perfectly good excuse to no longer be a Lions fan. Welcome to BEARS country!

I thought he was a colts fan. and he's moving to the fake home of the colts in a couple years too... (here being the real home of the colts

)

cheapie · 10-22-2009, 05:21 PM

hahaha. nice. and yeah, i'm a big colts fan.

btw, anyone want to buy my house? went on the market today. as a special G|A deal, i'll leave the snowblower for you.

http://www.7656harvestln.epropertysites.com/

DarkFury · 10-22-2009, 05:40 PM

Quote:

Originally Posted by attgig

I thought he was a colts fan. and he's moving to the fake home of the colts in a couple years too... (here being the real home of the colts

)

Stop yer cryin'..

09-28-2009, 10:22 AM	#32
cheapie Chief of Naval Operations Join Date: Aug 2002 Location: raising my pimp hand strong Posts: 12,766	pretty much the only reason i'd buy over renting is the tax deduction i'd by buying. that's quite a bit. and the payments would be lower. __________________ 70% of the world is covered by water. The rest is covered by Bob Sanders

09-29-2009, 04:56 PM	#34
DarkFury Secretary of the Navy Join Date: Feb 2001 Location: Chillin' N Da 'Hood Posts: 34,390	Grats on the new job... For me personally, I'd probably rent if I were only gonna be there for 2 years. Too many hassles with owning just to pull up stakes and move again in such a short period of time. __________________ DarkFury's Pimptopia - Don't Hate the Playa, Hate the Game! Home of the Original OG Pimp (accept NO imitations)

10-02-2009, 08:37 PM	#35
Markel Chief of Naval Operations Join Date: Feb 2001 Posts: 11,270	A few years back if you sold your house you only had a number of months (something like 18) to purchase another house or you would face capital gains on the difference between the purchase and selling price of your house (minus costs for improvements). I'm not sure if that's still the case, but if it is it would make buying another house a more attractive option. __________________ stay low... keep moving...

10-02-2009, 11:26 PM	#37
clutchy Rear Admiral Lower Half Join Date: Dec 2000 Location: Yucaipa, CA Posts: 2,717	^ up to $500,000 gain is not payed if MFJ. __________________ LK was treated unfairly thanks X

10-22-2009, 11:19 AM	#42
attgig Chief of Naval Operations Join Date: Jun 2000 Location: the ghetto's of bawlmo' Posts: 11,481	I thought you were juicing for your rides. I guess the french didn't conduct the drug tests? __________________

09-28-2009, 07:47 AM	#31
guiseppewv Admiral Join Date: Nov 2001 Location: East coast Posts: 6,955	Sorry I didn't see this until now! Congrats, Cheapie, on the new job! Congrats, Ray, on the new job! As far as the rent or buy dilemma, I would rent. It is going to be more of a hassle to buy now and then sell later.

09-29-2009, 08:14 AM	#33
smeakim Lieutenant Commander Join Date: Jun 2000 Location: CO Posts: 667	Congrats Cheapie..... Well if I ever make it up to my parents house with my bike in Milwaukee we will have to meet for a ride. Also they have some pretty nice bike tours (road) in Wisconsin.

10-03-2009, 10:42 AM	#38
guiseppewv Admiral Join Date: Nov 2001 Location: East coast Posts: 6,955	Good point. I failed to state that. Thank you!

10-06-2009, 09:44 AM	#39
cheapie Chief of Naval Operations Join Date: Aug 2002 Location: raising my pimp hand strong Posts: 12,766	well, it's official. i passed the drug and background checks so i'm in! woohoo!

10-20-2009, 02:10 PM	#40
clutchy Rear Admiral Lower Half Join Date: Dec 2000 Location: Yucaipa, CA Posts: 2,717	nice! I told you the cranberry juice would work

10-21-2009, 06:02 PM	#41
Markel Chief of Naval Operations Join Date: Feb 2001 Posts: 11,270	One nice thing about this move: you have a perfectly good excuse to no longer be a Lions fan. Welcome to BEARS country!

10-22-2009, 05:21 PM	#44
cheapie Chief of Naval Operations Join Date: Aug 2002 Location: raising my pimp hand strong Posts: 12,766	hahaha. nice. and yeah, i'm a big colts fan. btw, anyone want to buy my house? went on the market today. as a special G\|A deal, i'll leave the snowblower for you. http://www.7656harvestln.epropertysites.com/

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