Property flippers often wonder: How soon can I sell my house after purchase? This question can get complicated. Homeowners not only worry about property laws but also about home value. When are they legally allowed to sell? And when is the best time to sell? We will answer both of these questions below.
How Soon Can I Sell My House After Purchase?
Here is the simple answer: you can sell your house right after purchasing. Of course, there is no legal requirement that you stay. While property laws are often complicated, this one fact is pretty simple. After all, it’s your purchase. You can decide what you do with it.
Is Now The Right Time?
Here is where things get a little trickier. Yes, you can sell your house immediately after purchase. However, most experts advise against this. Selling a house too quickly is not always a smart financial move. Plus, the process is often more stress than it is worth.
Reasons Many Homeowners Wait
If you wait to sell your house, then you will hopefully be able to build some equity and make more money on your initial purchase. Living in the home for at least two years will also allow you to exclude some of your profits from your taxes. Many buyers also like to take their time to study the housing market. This can help you make the best financial decisions in the long run.
Ready to Start House Flipping?
Investing in real estate is exciting, whether you choose to sell immediately or not. Flipping houses is a creative- and lucrative- way to give back to your community. Best of all? Getting started is easier than you think! Red Door Funding offers loans to help investors purchase their dream properties. Explore our website to learn more about our loan programs.