Will we save money if...? My wife & I own a house in FL and will rent it and move out of state for her job. If
If we keep our house in Florida and rent it out and buy another house in another state for us to live in, will we save money by putting it in just my name instead of jointly? My wife has the better credit than me but I'm not going to be working for the entire 3 years that we have to live there for her job. Somebody told me that since I won't be working that we can save money this way. Something about taxes and residency or something. What are my ACTUAL options please??? Thanks!
Public Comments
- Unless you two are raking in the money, I think you are getting ready to make a major financial mistake, These boards are full of people that rented out their homes, moved out of state, then LOST their tenant, then have to struggle with repairs and re-renting, from afar...and paying the mortgage on a property that now has no income coming in. Why can't you work for 3 years PLUS an added expense? How in the world do you think you can save money with the loss of an entire income? Whoever is giving you financial advice...I sure hope you aren't taking it.
- You should probably consult with a financial advisor, who can take into account all of your financial information and give you informed, professional advise.
