My wife and I recently sold our condo and will be moving out to the suburbs later this fall. We will be staying with family in the meantime due to some other circumstance and just wanting a breather of looking at homes. Should we just park our sales proceeds in our savings account given we will need it for the down payment in 4-6 months? Or would a HYSA make sense here?

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Money market account will make the most sense.

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At least move it to a HYSA. It’s not that hard to transfer funds from that back to a checking account.

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I think you only have a year from that sale date to put it back into real estate without an insane tax on it as income, I’d talk to an account to be safe

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Thank you for clarifying!

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HYSA or money market.

After all, they have the same liquidity and higher interest rates/ROI than a standard savings account.

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