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While you're waiting to purchase another home, your situation can change, of course. Perhaps you get a big promotion at work or inherit money. Or maybe you have twins instead of one baby, and your expenses increase while your income decreases.
No matter the change, be sure to revisit your ability to make future housing payments and accomplish your other financial and personal goals before signing any real estate contracts. When you do buy another home, be sure to adjust your income tax payments by using the forms we mention in the preceding section.
- Keep Copies of the Closing and Settlement Papers
- Keep Proof of Improvements and Prior Purchases
- Stash Your Cash in a Good Money Market Fund
- Double-check the Tax Rules for Excluding Tax on Profits
- Cast a Broad Net When You Consider Your Next Home
- Remember That Renting Can Be a Fine Strategy
- Don't Simply Rehire Your Listing Agent When You Repurchase
