Buying a house is a big move and a great asset for most people. With land value increasing over the years, the resale potential of your home can become the highest it has ever been in a short amount of time depending on the market conditions.
However, when buying a house it is essential that you plan ahead how much time you want to spend in it, and if it’s less than four years, then you might want to look at other options other than purchasing a new home and living in it for two years.
If what you want is flexibility, then renting might be the better option for you. The reason for this is that, although buying a house can seem more attractive financially, it can also make for a large financial hit on your wallet if you decide to leave it after two years.
It is encouraged by experts for homeowners to spend at least 5 years living on their house before considering selling it. This five-year rule keeps homeowners from having to dodge capital gains, which is the cost of acquiring the house, versus the cost of selling it.
Make sure that you are intending to sell your house after five years in order to have more benefits as a seller on the market.
