Selling first hime...moving into second home
by Tingly » Tue Nov 16, 2021 8:03 pm
Good morning
Have posted in another section, but no replies as yet so thought it may be relevant here.
I have lived in my residential property for 40 years, am not quite ready to downsize yet, but thought about buying somewhere smaller and on one level now to use as a weekend place, in order to gradually get used to a different location/smaller place etc.
I know i will pay extra stamp duty on the new small home but am worried about what other taxes i might incur when it comes to selling my current home when i can no longer manage it.
Is it wise to buy now or am i falling into a trap somehow?
Any thoughts will be welcome.
Thankyou
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