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How long should you keep a house before selling?
is two years too short?
Asked By Ella N. | Monroeville, PA | 426 views | Selling | 2 years ago
Answer(6)
Brian DiMaggio
Atlanta Communities
Personally I hold all my real estate, its my retirement plan! Overtime, real estate trends upward. So regardless of the dips your investment is good. Two years the market can dip and you could lose money, but if there is a large increase and you are looking to pocket cash then sure why not!
- 1 year ago
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Tony Ayoub
Re/Max College Park Realty
Hi, the minimum time to sell your property for a good time is 5 years so you build equity by time, 2 years is a short time depending on the market and economy .
- 2 years ago
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Zakk Varughese
HomesRX
You can avoid paying taxes on the profit if you keep the property for a minimum of two years unless you do a 1031 Exchange.
- 2 years ago
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Depends on what your goal and situation is. Are you selling because of life or location change? Are you selling because its not the right house?
I am in Austin...if you bought here two years ago it was just starting to get a little crazy. You may do really well! If you bought AFTER the market started being insane you break even if you sold now. If you are needing to move for a job transfer or something you may break even and be ok. If you bought the house for an investment, it may give you the RIO you want. After commissions and capital gains you may be in the red.
Talk with a local agent and ask them for a net sheet.
- 2 years ago
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Tricia Kiddie
Keller Williams Real Estate Exton
Hi Ella- This is entirely dependent on what your goal is for the sale. I strongly suggest connecting with a top agent in your area and review the financials of the purchase, the current home value, and your goal for a sale. Too many factors involved to get generic answers.
- 2 years ago
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Heathergail Dedier
Century 21 Connect Realty
Hello Ella:
I have to agree with my other associates, it all depends on your reason for selling. The one thing I will add is depending when your purchased your at the beginning of the crazy market you should do very well, however, with that being said you have to take into account on your capital gain taxes. Therefor selling will also depend on whether you are going to purchase another home within the timeframe and also who much money you make from the sale of your home.
- 2 years ago
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