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When I sold my shop I built a house. It took 16 months to finish. We lived in it for 3.5 years and sold it for $335K. It cost me $160k (even including the cost of a truck). At one point it was appreciating at $500 a week and when we sold it the gain ($165K) was tax free, no Fed, state or social security. We used the gain from the first house to build the second house. 10 years living in house #2.
The wife buys a new car when she wants one and pays cash. Her combined income is much higher than mine, which can cause problems at times but overall it works out OK.
regards
Mech
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