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37

There are often taxes (by whatever name) that scale with the property price. Agents’ fees are also often a percentage of the property price. These costs are usually a small but noticeable percentage of the total price. Aside from this, you’re mainly looking at the difference between what you get and what you pay. If you are buying and selling properties at ...


29

The biggest stumbling blocks to these types of questions are when people want a refund, or in the cases where they haven't paid in advance they want to avoid being responsible for the last few months rent payments. As a former landlord there can still be things to consider. If the unit will be empty until the end of the lease: Don't let your renters ...


25

Since you don't mention anything about getting a refund or anything similar I don't see what could be an issue with the scenario presented. There is nothing to prohibit you from having 2 apartments (or any amount of property for that case) rented at the same time. As mentioned in the comments depending on how your contract is worded you may be required to ...


12

After a 6% commission to sell, you have $80K in equity. 20% down on a $400K house. 5% down will likely cost you PMI, and I don't know that you'll ever see a 3.14% rate. The realtor may very well have knowledge of the cost to finish a basement, but I don't ask my doctor for tax advice, and I'd not ask a realtor for construction advice. My basement flooring ...


12

You care if you’re trading up or down, which is very common. The amount that you have to pay to trade up, or receive when trading down, shrinks and grows with the average house price. You also care about the effect on the ease of buying and selling. Generally speaking, in a booming market it is easy to sell but hard to buy, while in a declining market it’s ...


11

Confer with the landlord I am surprised at the amount of work this contract wants done. I'd question if it's even legal given the high costs. I suspect it's only there to remind abusive tenants of responsibilities they already have in law for extraordinary abuse beyond ordinary wear-and-tear: they are already on the hook to repaint if they trash the paint ...


10

In most countries, you are deemed to dispose of all your assets at the fair value at that time, at the moment you are considered no longer a resident. ie: on the day your friend leaves Brazil, Brazil will likely consider him to have sold his BTC for $1M. The Brazilian government will then likely want him to calculate how much it cost him to mine/buy it, so ...


9

The answer depends on your spending habits and priorities and many other factors. However, just on the basis of the numbers you give, the simple answer would be no. The difference in cost of living between Madison and San Francisco is almost certainly more than the roughly 25% increase in your salary. This is assuming you actually mean San Francisco and ...


9

I'm not a lawyer, and I live in the US, not Canada, so I don't know anything about Canadian law. However, from a commonsense perspective, I would be reluctant to purchase real estate with someone I wasn't married to, unless I had a written contract, properly executed by an experienced lawyer, which detailed the arrangement. Of course, I might have done ...


9

Do you want to split expenses of the new apartment, or split your income/assets equally too (as for instance with a marriage where no sort of "yours, mine, and ours" are split out)? I'm going to assume you have beliefs similar to me in my answer, in that you desire to split expenses of the new place but don't suddenly want to split all of your assets and ...


8

The first thing you need to do is to set yourself a budget. Total all your money coming in (from jobs, allowances, etc.) and all your money going out (including rent, utilities, loan repayments, food, other essential and the luxuries). If your money coming in is more than your money going out, then you are onto a positive start. If on the other hand your ...


8

Bottom Line Up front: Yes you should be able to claim at least some of your moving expenses on IRS form 3903. In general if they pay you exactly for all your allowable expenses, and if you meet the other IRS tests, the money is tax free because it exactly balances with your expenses. That type of plan would be called an accountable plan in IRS Pub 521: ...


8

Auto insurance prices vary heavily between regions/states of the US, as the laws and regulations not only differ but so do the rate of claims and losses, nature of competition in each market, etc. The only way to define a good rate or a bad rate is to get competing quotes from other companies. With the internet this has become much easier and less time ...


7

Depends upon where you are in the United States but I've heard everything not tipping them in the case of a fairly straightforward move to up to $50 per mover if they are outstanding in terms of performance or you have an especially complex move for some reason. In the New England area the rule of thumb seems to be that you should have some sort of beverage ...


7

I am quite sure you can set up an office in your basement for a lot less than $15,000. Don't build any walls, install any flooring, or upgrade the ceiling. Just install more lights and plugs. Set up your desks, bookshelves and what not in whatever corner is furthest from noises like the laundry room or the furnace. The kids and the nanny get the main floor - ...


7

You both earn $65,000, $5417/mo. A well written mortgage would allow 28% to cover the mortgage, property tax and insurance. From $1517, let's assume $1100, just to get an idea of what size mortgage you can afford. At 4%, on a 30 year amortization, $1100 supports $230K. You say you are getting $250K from the parents and only need a $150K mortgage. That's a $...


6

Start using budgeting software like Mint.com, you can setup goals there, for example if you expect your rent or mortgage to be $1000/month, setup a goal of saving $1k/month, start paying your groceries bills now. you'll see if you are ready or not. Sounds like you already do a great job saving up and you are very diligent counting the money.


6

There's a concept called interest rate parity, which sort of says that you cannot profit on the difference in interest rates. This difference accounts for the predicted movement in exchange rates as well, along with the stability of the currencies.


6

Split the money 50/50. Split the costs 50/50. Prioritize your relationship over a couple of dollars here and there.


6

Houses don't all appreciate at the same rate. You'd care a LOT if, for example, the house you're selling appreciated 30% in the time you've lived there, but the house you're buying has appreciated 60% and happened to by 3x as expensive when you bought the first house. £100,000 x 1.30 = £130,000 £300,000 x 1.30 = £390,000 £300,000 x 1.60 = £480,000 What ...


5

For any money you plan on taking back with you to India in a couple of years, you need to consider whether you expect the U.S. dollar to gain strength compared to the Indian rupee, and if so, by enough to make up the difference in interest rates. According to exchange-rates.org, $1 USD would buy you 44.22576 INR on April 29, 2011, and 49.41525 on October 25, ...


5

Disclaimer: I am not a tax professional. Please don't rely on this answer in lieu of professional advice. Please see IRS Publication 521 (emphasis added): [Y]ou can deduct the reasonable expenses of: [...] Traveling (including lodging but not meals) to your new home. [...] You can deduct the cost of packing, crating, and ...


5

If you leave without having met all the obligations in the contract they could sue you for the money. The size of the company may mean that they are experienced in collecting their debts. The insurance they made you pay for, may pay them back if they meet all the requirements in the policy. That means that you will have to read the terms of the policy to ...


5

The incredible plethora of successful day trading stories across the web are like condoms that come in three sizes: Small, Medium and Liars. Most of these blogs are trying to sell you the dream that if you use some combination of indicators that you will easily print money from day trading. In reality, something like 90% of day traders fail within ...


5

I'm doing this right now. (My lease ends in a couple of months, but I have already gotten a new place.) I usually overlap by a couple of weeks, just because I don't like rushing to move. So yes, I can verify firsthand that it is possible. You'll be paying a little under twice as much in living expenses during that time, but if that's not a financial problem,...


4

International bank like Citibank or Chase: deposit your funds while still in Brazil deposit might take time to be available/clear: cash should be immediate, checks may take 1-4 days, depending on amount they will be available in the states. you can have friends or family deposit more funds for you in Brazil if needed, and they will show up in the US in a ...


4

To be able to claim moving expenses in Canada, your new home must be at least 40 km closer to the new place of work than your old home. CRA spells out the criteria and includes a nice quiz here: Can you claim moving expenses? They don't specifically state that the order matters, so I take it to mean that the CRA just needs to consider that the move was ...


4

IRS doesn't send the forms any more, so you don't need to worry about that at all. You'll need to check carefully what's your tax liability in each of the states, and might end up filing returns (either resident or partial/non-resident) in both. The IRS itself doesn't care what income comes from what state (its a Federal agency), but the states do.


4

You should look into a home equity line of credit: A home equity line of credit (often called HELOC and pronounced HEE-lock) is a loan in which the lender agrees to lend a maximum amount within an agreed period (called a term), where the collateral is the borrower's equity in his/her house. Because a home often is a consumer's most valuable asset, many ...


4

The key term you're looking for is "purchasing power parity", which considers the local prices of goods and services when making comparisons between countries. For example, you can look up the GDP by PPP per capita to get a sense of much people on average incomes can buy in each country. Of course, average incomes may not be too relevant to your own ...


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