Buying a house ranks as one of the most expensive and complicated purchases many people will make, but selling one comes with its own set of risks.
This is especially true if you’ve bought your house relatively recently and have sunk a significant amount of your savings into acquiring the property.
You have to proceed carefully to make sure the expenses associated with selling don’t add another, unbearable burden to your finances.
The longer you can hold onto your house after buying, the better for your financial health. More time lets you build more equity and take advantage of potential home value growth.
A guideline commonly cited by real estate experts is to stay at your house for at least five years.
On average, this is how long it takes a homeowner to make up for mortgage interest and closing costs.
Sometimes you can’t wait to sell your home — you may have to move cities for a job opportunity.