Selling House for a Rolex

[123Blueface]

Originally Posted by jasonsensation

THAT. Is exactly it.

£10,000 to pay off a loan i used to get the batman + a car
£10,000 ill hold waiting for a daytona like i waited for batman

£20,000 deposit on new house

Except it’s not costing you 20,000.
How long is the loan? At what interest?
Check out how much that 20,000 is really going to cost you.
In the US, if you reinvest the profit of a house into your new house, within a specific period of time, you defer and don’t pay any taxes on the profit. In the long term, that’s the smart way to go.
You can always buy a watch later. You already have a very nice BLNR.

As an example in US Dollars, on a $20,000 loan, 4%, 30 years, that $20,000 cost you $35,000.