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I am doing a budget

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IAG
I'm selling as soon as mom passes and I can get out there and get it handled. Obviously I will give current tenants reasonable notice, and first right of refusal, but they are getting a hell of a deal right now.

Hopefully prop values go up during that time. I know my property taxes have gone way up. You know I'm right up the street from the OTB....:megarock:
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:dunno: possible, we'll talk. I'm not crazy about the area
 
Mudcat
I remember doing a budget decades ago and I was spending over a thousand a month just on booze. That was strictly drinking at home - almost never went out.

~$33 per day on average for alcohol. 25 years ago.

That didn't count additional drugs which were considerable.

The mind boggles.
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At the height of my painkiller affinity, I was spending $1600/month on pills. Luckily I was making bank at the time, but that's still a shitload of money. That was probably the only thing that convinced me to stop...til I had back surgery.
 
Mudcat
I remember doing a budget decades ago and I was spending over a thousand a month just on booze. That was strictly drinking at home - almost never went out.

~$33 per day on average for alcohol. 25 years ago.

That didn't count additional drugs which were considerable.

The mind boggles.
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wow! you must have amazing genes. Survived and in apparently good health with an occasional hammerhead.
 
reno cool
:dunno: possible, we'll talk. I'm not crazy about the area
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lol me either. It was ok when I bought the property, and I love the house (townhome,) It was a mile to work. Wish I could transport it here. But yeah, area...not one of the better areas in town. ...although it's far enough south of Mississippi which I view as the cutoff in Aurora. I bought it in 97 for 97,500. Zillow has estimate at $176k now.

Hey Boner...talk to me about capital gains on primary residences. I don't think you have to pay them. I have to do this carefully as I will be selling the 605 house within 5 years also and the basis on this one is next to nothing. I'm still trying to play both sides of the residency deal til I can figure out which makes sense
 
Blitty
Why within 5 years?
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Well I will wait for mom to pass obviously. I need to wrap up the sale of the other house first. I'm just thinking that's the far upper limit of how long mom has. My dad built this house, and there are sentimental reasons to hold onto it, but I am just not cut out for home ownership. Townhome/condo yes...but I don't need a 4 bedroom house with a big lawn to worry about, windows to wash,all that....even though we hire all that out, it's a pain in the ass....I'd rather have an association handle it.
 
Boner_18
250k exempt on cap gains (500k if you are married) on primary residence (actually covers 2 homes). Gotta live in it 2 of the last 5 years Iat time of sale i think.
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How does it cover two houses? So theoretically, I should sell Denver home now, because I lived in it up until 3 years ago? Then could I have full exemption on the 605 house when I sell it? Neither would be over 250k gain.
 
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