Why Stay In A Primary Residence For 1-2 Years?

[Kristopher Kelly]

I have a VA loan on my condo right now and I have lived here for six months. I got pre-qualified for $240,000 for my next purchase. What would be the things I should consider before moving out prior to that 1–2-year mark? Do you not get the same tax benefits on the first purchase? Do my future rates change now because I am moving more than usual? My broker said I would need to just write a letter to the bank stating why I am moving so quickly after purchasing. I am also keeping the condo as a rental and she said that I would just need to provide documents showing there is someone signed to a lease prior to closing on the second property.

That was a lot, but I hope it paints a picture someone can hopefully help me finish. What would be the disadvantages of moving so fast and is it a good idea? Also, does anyone know of a better strategy?

Thank you for any help anyone can provide thank you for the help and I love this community.

-Kristopher Kelly