Bought a house - ended up hating the area

[Kady DeWeese]

I just moved to Texas in January. Great house, great location but I utterly hate this state and the south in general and want out. I’ve only lived here 9 months. I bought it for 750k, owe 500, it’s showing a value of 990 due to the crazy Austin real estate market boom that happened a few weeks after I began my purchase process on this home.

Any ideas for how to get out of this place without paying a ton in capital gains? I don’t know if I want to stay until the 2 year mark for the exemption. My job is flexible and I can work from anywhere.

[Henry Clark]

@Kady DeWeese

Like to look at peoples background and prior posts before replying. 

Your first post said you bought a house for $310k cash. Didn’t like the neighborhood.  Kept it as a rental. Then six months later you paid $250k down on a second house in another Austin neighborhood and don’t like it either.  Luckily you have a valuation $240k higher after owning it 3 months. 

You’ve been in a $310k neighborhood and are now in a $990k neighborhood.  You want to sell and move to a Colorado ski town setting.  

A.  Sell both and move.  Thank Austin you can do that with no negative tax impacts.   Actually you will make a good profit for 9 months.  

B.  Austin is not Texas.  Did you want to move to Texas or to Austin? If you wanted Texas try another town.  I’ll catch some xxxx from the above statement.   But if you have a Star on the side of your house or barn you’ll be okay with me saying that.  @Kady DeWeese. Go to the San Jacinto monument find out what it’s about, find out who put that star at the top of the monument, go to hill 223 in North Korea and find the spot where a sergeant/wartime 1st lieutenant fought with his Texas boys, go to that part of Texas where your doing 70 and the person ahead of you moves over to the side shoulder doing 60 and let’s you pass them and not do 60 in a passing lane, look at the bluebonnets along the highway and think of Lady Bird, drive 3 hours to try to find the best barbecue in the state and wait an hour in line, try butter pecan ice cream from Bluebell, if he is still playing or alive go watch Johnny Reno and the sax maniacs.

You don’t have a tax issue.  Your cash positive if you liquidate. 

You have been in two totally different neighborhoods and made the decision to move there and don’t like either.  

Decide if you wanted “Austin” or “Texas” to live in. Texas is Texas. 

My point is you don’t have a real estate issue.

I like Telluride.

I’m going to give you my secret trout spot if you like to fish.  Drive to the first look out point going into Black canyon of the Gunnison mountains.  Pack for three days.  Take a dip net the current is roaring.  You will catch 5 pound rainbows.  1 1/2 hour slide down   4 hour hike up  

Vail stay at the little German hotel along the creek during the summer.  Leave your windows open at night to hear the stream.  

Go to Glenwood Springs and take your bathing suit.

Do all of these before you buy.  Get to know Colorado.