question
Q: My wife and I bought out place 3.5 years ago for 370K. A recent valuation placed it at 650k today. The increase being a bit of luck and some renovations etc. We are considering moving, and deciding whether we hold onto our current place and rent it out or sell it. Could service it and the bank is willing to lend it. What I'm worried about is capital gains tax. Given that we'd probably be planning to sell in 2-3 years, and the appreciation will probably slow, is it better to sell now?
