All Forum Posts by: Eric Lam

Hi Jason,

       Thanks for the clarification.  I'll be in Okinawa for 3 years and don't plan on going back to Massachusetts ever. Selling sounds great and and my likely course of action.

V/R

Eric

Hi Allan.  I'll be past the 2 years in September and shouldn't have to pay taxes. My question was if there were any restrictions for selling your primary residence every two years and not paying capital gains taxes because I sold my primary residence in 2021 and will sell again in 2023.

General question bigger pockets family,

I'll be moving to Okinawa, Japan for work and on the fence between selling or renting my property (3 bed, 2.5 bath, 2 car garage Condo, built in 2021) in Pepperell, MA.

I purchased it as my primary residence in September 2021 for $480K using the VA loan with a 2.75% and currently owe $460K. I plan on selling my primary residence this September to avoid paying capital gains taxes and intend to list it for $650K. I would net $155K after expenses if it sells for $650K.

My question is should I sell or rent the property? I am leaning towards selling because it's still a buyers market where I live and not confident that the rent will cover the mortgage, any thoughts?

Also, are there any restrictions on selling your primary residence consecutively every two years and netting all capital gains tax free?

For instance, I sold my last primary residence of two years in Texas in 2021 (77K Cap Gains) to buy my new home Massachusetts. I just want to make sure that there aren't any restrictions that prevents us from selling primary residence(s) back to back and netting capital gains tax free.

Please let me know and thanks, fam!

V/R

Eric

Will installing solar panels increase the resale value of my home? I'm on the fence moving forward with that option.