Hello. Being in the real estate business, a lot of my clients ask me how soon can I sell a house I just bought. To answer this question, I can say that there is no waiting period that you need to follow before selling your house. However, there is an angle to saving taxes while selling your house. When you sell your property before 24 months, i.e. 2 years from the purchase date, the government levies Short Term Capital Gains (STCG).
To overcome the STCG, I advise you to wait 24 months before selling your home. There are more things about this which I am sharing below.
How Early can You Sell Your House?
As I stated, there is no restriction on how early you can sell the house. But, to save on STCG you should wait for 2 years. With owning the house for more than 5 years, I recommend you invest the gains into buying a new property. This will help you avoid Long Term Capital Gains (LTCG) Tax.
When you sell the property, look at the market conditions. It is best to sell when it’s a seller’s market. Market appreciation is a varying thing and the prices continue to rise. But they reach a point of unaffordability where the buyer can no longer make the purchase. So, you need to see your time and sell before this peak grows to where it becomes unaffordable for the buyer.
Sell Your House at the Best Price Without Paying Brokerage Via NoBroker! Some related information:Where to Invest Money After Selling House?
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How Soon Can I Sell a House I Just Bought?
kirti
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57 days
2024-10-29T00:15:12+00:00 2024-10-29T00:15:13+00:00Comment
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