All Forum Posts by: Kevin Joy

Makes sense and great information, thanks! Our initial plan was to stay, but situations have changed a bit. The other house we own is literally a mile down the road. I guess I just have to wait and see 1.5 years from now where things are at. But, you've certainly aided in enhancing my knowledge of the process!

Well, my costs were relatively low since it was a 2nd VA loan. I didn't have any money out of pocket and actually got money back at closing. Not sure what the sales would be. But, I know about 1.5 months after I moved in, the builder raised the price 20k to build the same house. So, I am floating on speculation really, but working through ideas nonetheless.

I don't have to own it 5 years though correct? If I lived in it 2 of the 2 years I owned it, that would qualify?

Here is my situation. I bought house in 2007 and lived in it from 2007 to 2012.

In 2012, I bought a new construction and moved into it in August of 2012. I kept my other home and converted it to a rental.

I was thinking that in two years, I could sell my new construction home for a profit and move back into my rental home, keeping the gains from the new construction sale. I would then convert my rental back to my primary residence, obviously, and use some of the proceeds from the new construction sale to renovate my rental property.

Would I be subject to capital gains in this situation since the new construction home was never seasonal, a rental, or anything else? It was always just my primary residence.