Advice on buying a million dolloar house, please

[UCGal]

Make sure you calculate in the cap gains hit when you liquidate your stocks to get your down payment… If you’re 3 years out, you might want to do some tax planning on this.

Of course long term cap gains are the lowest tax rate around… but you still need to account for it.

[kismetsdad]

Dont forget the phase out of mortgage deduction and the AMT. You can run various scenarios through TurboTax to check out post tax impact of choices.

[kismetsdad]

Dont forget the phase out of mortgage deduction and the AMT. You can run various scenarios through TurboTax to check out post tax impact of choices.

[kismetsdad]

Dont forget the phase out of mortgage deduction and the AMT. You can run various scenarios through TurboTax to check out post tax impact of choices.

[kismetsdad]

Dont forget the phase out of mortgage deduction and the AMT. You can run various scenarios through TurboTax to check out post tax impact of choices.

[kismetsdad]

Dont forget the phase out of mortgage deduction and the AMT. You can run various scenarios through TurboTax to check out post tax impact of choices.

[Jazzman]

The property tax bill alone on a $1m cash purchase means you would need to invest another $150-$200k income property just to pay it. On the other hand with the mortgage interest deductible possibly on the chopping block that might be a consideration. A cash purchase will offer you better leverage on negotiating a better price. Why do you have to live in a $1m home? A high price tag does not necessarily mean a better home. You can find some dreadful homes in that price range and some nice ones in a lower price bracket. Your age may also be a factor. If you are older, are comfortable and have opinions on credit markets, an all cash purchase in a low tax state is the simplest route.

[Jazzman]

The property tax bill alone on a $1m cash purchase means you would need to invest another $150-$200k income property just to pay it. On the other hand with the mortgage interest deductible possibly on the chopping block that might be a consideration. A cash purchase will offer you better leverage on negotiating a better price. Why do you have to live in a $1m home? A high price tag does not necessarily mean a better home. You can find some dreadful homes in that price range and some nice ones in a lower price bracket. Your age may also be a factor. If you are older, are comfortable and have opinions on credit markets, an all cash purchase in a low tax state is the simplest route.

[Jazzman]

The property tax bill alone on a $1m cash purchase means you would need to invest another $150-$200k income property just to pay it. On the other hand with the mortgage interest deductible possibly on the chopping block that might be a consideration. A cash purchase will offer you better leverage on negotiating a better price. Why do you have to live in a $1m home? A high price tag does not necessarily mean a better home. You can find some dreadful homes in that price range and some nice ones in a lower price bracket. Your age may also be a factor. If you are older, are comfortable and have opinions on credit markets, an all cash purchase in a low tax state is the simplest route.

[Jazzman]

The property tax bill alone on a $1m cash purchase means you would need to invest another $150-$200k income property just to pay it. On the other hand with the mortgage interest deductible possibly on the chopping block that might be a consideration. A cash purchase will offer you better leverage on negotiating a better price. Why do you have to live in a $1m home? A high price tag does not necessarily mean a better home. You can find some dreadful homes in that price range and some nice ones in a lower price bracket. Your age may also be a factor. If you are older, are comfortable and have opinions on credit markets, an all cash purchase in a low tax state is the simplest route.

[Jazzman]

The property tax bill alone on a $1m cash purchase means you would need to invest another $150-$200k income property just to pay it. On the other hand with the mortgage interest deductible possibly on the chopping block that might be a consideration. A cash purchase will offer you better leverage on negotiating a better price. Why do you have to live in a $1m home? A high price tag does not necessarily mean a better home. You can find some dreadful homes in that price range and some nice ones in a lower price bracket. Your age may also be a factor. If you are older, are comfortable and have opinions on credit markets, an all cash purchase in a low tax state is the simplest route.

[desmond]

Not for stupid comments? I have been here for at least 5 years….

[desmond]

Not for stupid comments? I have been here for at least 5 years….

[desmond]

Not for stupid comments? I have been here for at least 5 years….

[desmond]

Not for stupid comments? I have been here for at least 5 years….

[Author]

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