[quote=SDHopes][quote=BoomerAang]You can rent out your existing Temecula home while renting a place in North County.
I was debating between Temecula and North County as well back in 2009, but ended up getting a townhome in Carlsbad. Loving the fact that work is only a little bit away, but wondering how big of a house I could have had. I have a couple friends in Temecula that are trying to get back to a place nearby in North County as well.[/quote]
That’s good advice and we seriously considered doing that. Unfortunately the going rate for rent is 500 dollars less than our mortgage. So renting an apartment back in San Diego County plus the extra 500 dollars would come to more than what we pay now. So frustrating![/quote]
I would stick it out and live in it for two full years so that you can sell without paying any capital gains.
If you sell your primary less than two years after buying it, you’ll pay capital gains tax (15% federal, plus whatever state income tax bracket you are in … likely at least 6% if you have the income to afford a 300+K house).
