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Selling a house might be a big deal for most of us, especially those who have lived in it for only one to two years. Everyone has their reasons for selling a house without observing the five-year rule. It might be security reasons or a lack of interest in the house.
However, when it comes to selling your house, there is a rule that states that one cannot sell a house unless they have lived in it for five years. In some cases, this rule can be broken. Below are three times when you can consider breaking the five-year rule.
When Property Appreciates More
The value of properties tends to go up as the years continue to pass. This would certainly qualify you to break the five-year rule. However, it depends on the place where you live. It is wise if you consider going to a different neighborhood that is cheaper than your previous house.
If you choose to stay in the same neighborhood, you might end up paying a higher price for a house similar to the one you owned. Furthermore, you need to know that this concept only works if the profit you are getting from selling your house is significant.
Property in Your Neighborhood Depreciating
Everyone wishes to stay in a neighborhood that is safe, quiet, and environmentally friendly. This might change overnight. Just when you think that you have bought the house of your dreams, things will start to go south.
New buildings such as factories, malls, or prisons force houses to depreciate. We all know how factories can be noisy and pollutant to the environment. Not everyone is comfortable with such situations, and selling your home in the future could be problematic. That is why it won’t be wrong for you to break the rule.
You Hate Living There
You may have bought a house thinking that you are going to renovate it and live there happily. Later on you find out that the house is too small or the renovation did not satisfy you. It is not worth compromising your happiness just to stay in the house, so take the opportunity to sell your house and find the house of your dreams.
Not everything in your house that you dislike can be fixed with renovation. If you need help in selling your house, you can visit Home Flippers for more information on how you can sell your house fast.
Selling your home is a big deal for most of us. It is wise to think of suitable reasons first before selling it. You don’t want to sell and then end up regretting your decision. It is also good to check the market value of houses around your neighborhood before selling. You do not want to sell only to end up with no profit. If you feel like you are not ready to sell your house, just wait for the right time. It is not surprising to find yourself changing your mind and end up living in the house.