You can purchase a new home paying with cash. If you do purchase a home, you'll want to keep your settlement/closing statement in a safe place as this document will help you to figure your cost basis (how much you paid) for your home. When the time comes that you sell your home it's then that you may have to pay capital gains on the sale. If you meet the IRS criteria for excluding certain amounts of capital gain on the sale of your home, it can potentially save you from paying a lot of tax on the sale of your home. Please see the following link for more information: https://www.irs.gov/taxtopics/tc701
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