13 May 2021
Is Buying a House for Three Years Worth It?
Buying a house is a big investment, and it is important to sell it at the right moment in order to avoid capital gains. If you have lived in your house for three years, and you want to sell it, there are some things that you need to make sure of doing before taking a decision.Â
If you are deciding that you want to buy your house for three years, it is recommendable that you contact experts that are going to recommend which steps to take during the selling process.Â
Be aware that selling your house this soon can cause you to take a financial hit, due to capital gains. If you still have a big amount of your loan unpaid, and the price of the house is not enough to cover all of the prices, then you might have to consider moving to sell your home after two years.Â
The five-year rule has exceptions, of course. If you are no longer able to afford your house or your neighbourhood has safety issues that are worrying you, contact a real estate agent that can help you look for affordable options for your housing. The point of the five-year rule is to make sure that homeowners receive big financial gains before the time they decide to sell their property.Â