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These rules only apply to personal properties I think, not rental properties.  You can still deduct rental property interest, taxes, etc without a cap. 

Yes, I would say this is true, "as it currently stands."  Lots can change, and I'm sure the bill will be modified quite a bit, but I'd say that's accurate for the current iteration of this bill.

From my cursory review of the bill, it seems that it *starts* 1/1/2018, and thus, would not impact your tax return until the one that you need to file on 4/15/2019.  So your tax return that you file next year will be under the "old" rules.  At least, that's what it appears as of now, but who knows?

Another interesting caveat embedded deep within the plan is that it appears you must live in your primary residence for 5 years before selling for tax free gains, as opposed to only 2.  Interesting...

I am in the same boat as you, and it appears we are out of luck, at least as it currently stands. 

It's approx 870k for plan 1, 900k for plan 2, 1mil for plan 3, and 1.05mil for plan 4 based off the most recent price sheets.

So your answer is:  neither.  I suppose I forgot to include that one as a potential option.  :)

Thanks!  So both of these touch upon another consideration - TC Plan 4 is the most expensive home in the "area" of CVE (mid-high 900s), whereas the Legado Plan 2 will be in the middle in terms of cost (Legado Plans 3 and 4 are 1mil+ now, Plan 1 is high 800s, Plan 2 low 900s, and also consider...

So that's another good point - TC is located in a higher density neighborhood (next to attached homes, affordable housing, and a 55+yo community), and itself is situated as a somewhat compact courtyard home setup. Legado in PS5 is moreso with other types of home products (SFH Elderberry...

Thank you!  That probably summarizes it quite well, I'd say, although the higher appreciation part is unknown.  If, after upgrades and modest landscaping, a TC plan 4 comes to about 1 mil-ish, do you think the TC homes have room to keep growing, assuming that price point? 

Thank you!  Great to hear from someone living in the area.  Given the proximity to the toll/5 and Ridge Valley, can you hear the noise from inside your home? 

Thanks for the response! It's actually the inverse - looking at a TC plan 4 (has the loft) and a Legado plan 2 (no loft).  TC is higher-priced (50-60k-ish) but the monthly cost (PITI) is offset by the MR difference, so each one is in the same ballpark in terms of monthly costs. Both look like...

Great question!  We have looked around.  The CV resales seem to be around mid 900s for a 3/2.5 home, whereas we are aiming for a 4/3 home.  SG resales for a 4/3 are a bit above our range, and WB typically doesn't have the floor plans we prefer.  We haven't looked much into NW. So these two...

Thank you for your input, I appreciate it. Future value matters to an extent, in that if our situation ever changes and we need to relocate, it'd be good to know we'd have the flexibility to do it.  That said, we do expect to stay in our new place for at least 5-10 years. So you think being a...

Thank you for the response! Personally, I am fine with either school.  15 minutes is probably a bit of an exaggeration on my part, but I figure it would probably take about 10 minutes longer or so on average for both my wife and myself to get to and from work.  It's a tough call, and I am...

Hi all, Long time reader, first time poster who is in a similar situation to the OP, and wanted to get some feedback from TI members.  My wife and I are considering a Legado Plan 2, but we are also weighing it against a possible Trellis Court Plan 4.  Both homes are fairly similar in size...