How is setup a primary, vacation, and a weekend house to sell in a specific year?
Submitted by lenp on Sun, 05/03/2015 - 21:36
Let’s assume a primary, vacation and a weekend house. I would like to setup ESPlanner Plus to model selling any of them in a specific year. I’ve set these properties in the Real Estate screen however where does the cost show up? Does it lower Discretionary Spending? Because it is an expense, I assumed it would be in the Total Spend Report but I don’t see it.
Is there another setup someone can recommend?
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dan royer
Mon, 05/04/2015 - 15:46
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I would use Primary Home for
I would use Primary Home for the primary home, then use Vacation Home for the vacation home, and then weekend house could go in Real Estate. The first two will show up, combined, in the Housing Report. The real estate is treated as an asset and the net effect of that will appear in the Total Income report. Those mortgage payments in the real estate if any will appear in the REal Estate report and the Total Income report. Each of the three has its own way of selling which I think is apparent in the user interface of those respective items.
dan royer
Mon, 05/04/2015 - 15:53
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It will lower discretionary
It will lower discretionary spending if there are expenses and mortgage payments related to any of these homes (compared to not owning them at all and having no expenses).
lenp
Mon, 05/04/2015 - 18:04
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Thank you - the weekend house
Thank you - the weekend house is an expense. Where on the Total Income report will the Real Estate mortgage be subtracted?
dan royer
Mon, 05/04/2015 - 21:30
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You'll see that mortgage on
You'll see that mortgage on the Real Estate--actually the net cash flow that could account for mortgage, receipts and/or expenses--show up as real estate cash flow in that column near the right of the page on the Total Income report.