Sold our first house, now buying a new one. I have question about how to smartly use the capital when it comes to remodeling and taxes.

Recently moved cities, now in Dallas, and sold our home with a nice profit, more than we need to put down on this new house. However the new house we like does need some kitchen and bathroom upgrades, a coat of paint and some repairs.

We mentioned the remodels to our Realotor but there an option to include these cost in the loan never came up. Should this be something we try to do?

Second since we are only putting down a portion of the money we got on our house sale down on this new house (and using some more for remodels). Are we going to have a huge tax bill on the rest of the money left over. I'm worried we are going to eat it for not dumping all the money back on a down payment.

More real estate tips at Program Realty Wix site

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