Selling my place with owner financing for right around a million, the kicker I will have the ability to stay here till it's paid for and the contract is for five years. The reality is I don't like living here, it's far from everything and I have another empty chunk of land that would be more convenient. The issue with that place is that it will eventually be sold to developers, so no sense in putting a permanent home on it. The cost to put a manufactured home with the size and features I want would probably eat up most of the $200k down payment that I would receive.
Do I stay and live rent free for five years? Do I put a home on the other place and rent it out? Do I move to the other place? Do I buy a house in the city I really want to live in?
No real debt, monthly expenses are mainly just universal bills that we all face, utility, insurance, food etc.. Living on the other place would be great for tax reasons, but I am going to be hit by massive taxes even with the exemption.
Thanks for any thoughts or insights.