Author Topic: Primary Residence - What to do with profits on sale?  (Read 735 times)

wing117

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Primary Residence - What to do with profits on sale?
« on: August 18, 2016, 06:36:05 PM »
Hello!

I will probably be selling my home in the next 12-18 months to move out to Colorado. Generally I'm looking at ~80-100k in profits coming out during the sale. On the move to Colorado, I'd like to rent first to not tie myself down to one location while I'm getting to know and understand the city. This could be an additional 12-24 months before I'm ready to buy another home.

What should I do with the funds during that time? Savings Account? Vanguard? Something else?

Thanks!

waltworks

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Re: Primary Residence - What to do with profits on sale?
« Reply #1 on: August 18, 2016, 08:12:20 PM »
If you plan to use the proceeds for a new downpayment, high yield savings account.

-W

Another Reader

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Re: Primary Residence - What to do with profits on sale?
« Reply #2 on: August 18, 2016, 09:53:18 PM »
If you plan to use the proceeds for a new downpayment, high yield savings account.

-W

Yep.  You cannot afford to take any risks with this money.  If you are sure the gap will be at least 12 months, you can do a little better with a one year CD.  Check www.depositaccounts.com for CD rates.

wing117

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Re: Primary Residence - What to do with profits on sale?
« Reply #3 on: August 19, 2016, 09:30:11 AM »
Awesome, thank you!