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Updated about 7 years ago on . Most recent reply

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203
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17
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Pandu Chimata
  • Real Estate Professional
  • Glendora, CA
17
Votes |
203
Posts

Primary residence tax benefits

Pandu Chimata
  • Real Estate Professional
  • Glendora, CA
Posted

I have a primary residence at this time. I am planning to buy another house to move into the new house and then sell the existing house. So If I move to the new house and stay there for two years, would that be considered as a primary residence ? What is the record proof that the new house is the primary residence?

When I am buying the new house I will not be qualified for the primary residence interest rate but its considered as an investment property. So in the loan documents it will be registered as a investment property.

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