Sean Pyles

But there is some good news when it comes to selling property, which is that you can likely pocket your gains because

You might be able to keep up to $250,000 in capital gains tax-free.

That's $500,000 if you are married filing jointly, which is pretty nice.

But here's the thing about condos.

They have a reputation for accruing value more slowly than something like a single family home.

So Becca and their boyfriend's first step should be to see how much they might be working with after selling their house.

And then they can think about how much they would really be playing with when it comes to either investing or buying or building something.

Now, assuming they do have some cash to work with, let's explore these different options that Becca is presenting.

First, buying land in a different state and building a mountain chalet, which sounds, frankly, extremely fabulous, although very complicated and maybe expensive.

And then again, the other option is simply investing the proceeds from their sale.

And I assume they just mean investing in the stock market here.

I get the impression that Becca and their boyfriend are first time landlords, which is also something to consider.

So, Lisa, what's your take on this entire situation and the potential options that they're proposing?

Something I'm thinking about as well is, again, we don't know how much Becca and their boyfriend might net from this condo sale, but it's not like they're going to be able or maybe they shouldn't be using all of the proceeds to construct the chalet or to buy rental property or disinvest it.

They should likely be pocketing some just for savings for a rainy day, especially if they're going the rental route.

Yeah, you and your son are tearing apart your apartment.

We know that.

Yeah, say goodbye to your security deposit.

Yeah, it's important to think about who might be staying at your rental property and what their intent would be.

If it's a long term renter, that's going to be their home.