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How Early Is Too Early To Sell My House?

Buying your first home can be a long and emotional process, but the process of selling your Las Vegas home can be even more difficult. Besides the fact that you have to keep your home as clean as possible, selling your home can be an emotional journey as you’re inviting strangers into your home to decide whether or not the home that you love is going to work for them. While you’re dealing with all of this, whether you’re in the heat of summer or the dead of winter, what might make it harder is the timing of your home’s entry to the market: selling your home too early, before you’ve occupied it for a certain number of years can cost you.

Why did people ever buy homes? Homes, no matter how essential, are and always have been status symbols, so owning one always meant that a person was fortunate enough to be able to afford a home. Why are we still encouraging home ownership? Because of the financial benefits that exist in home ownership. For one, owning property can raise your net worth. Another great reason for home ownership is collateral, in case you find yourself in a compromising financial situation. You’ve also got a building that you are entitled to rent out, or in which you can open many types of businesses. Owning a home can be a fantastic way for you to build up your credit, but purchasing one isn’t a solution to any problem, except that you need to purchase a home, and can afford to make the monthly payments, unless you pay cash.

How Long Should I Stay in My Home?

home for sale

Financial advisors and real estate professionals recommend remaining in the home you’ve purchased for a minimum of five years. This recommendation, referred to as the Five-Year Rule, is to the benefit of consumers. On average, it takes about five years for a borrower to pay off the interest on their mortgage, and this rings true across the nation, including in Las Vegas. Mortgages calculate the cost of your home with the interest imposed by both federal regulations, and the banks’ own interests. Your credit, of course, will also affect your interest rates, but whatever your interest rate, you can expect that it will take about five years for you to pay all of the interest on your mortgage, as well as a large portion of the principal.

Yikes! Does That Mean I Can’t Leave For Any Reason?

The simple answer is no, this doesn’t mean that you can’t leave your home, so don’t worry! Plenty of people need to sell their home on a quick turnaround for a variety of reasons. Some of the most common reasons that people move from their Las Vegas homes early is due to illness of the homeowner, or a family member; a job change, or a change in the housing market in Las Vegas. Any or all of these reasons could put you in the position of needing to sell your home early, but understand that the reason that it’s better to keep your home until you’ve made a dent in the principle is because you could lose a great deal of money. Closing costs on a new home can add up to thousands of dollars. Because your mortgage payments only affect the interest for the first few years, selling your home without paying the principal will leave you with very little if you leave too early; before you have time to pay on the principle, and build equity in the home.

Something that could actually require you to stay in your home could be a reverse mortgage. In a reverse mortgage, you’re paid cash from the equity that you have in your home. Reverse mortgages are really a program created to keep elderly and financially-vulnerable people in their homes. If finances or anything else resulted in a reverse mortgage, make sure that you work closely with your lender, and with your real estate agent. Selling a home with a reverse mortgage is a different challenge, and you’ll need help.

What If I Have An FHA Loan?

FHA Loans were originally created to assist new home buyers during the 2007 Financial Crisis. These loans were unique in that they were targeted toward younger people who were looking to build their credit. FHA Home loans are generally interest-free, which is a huge bonus to anyone with a lower credit rating who is ready to buy a home. The trick to purchasing a Las Vegas home with a FHA loan is that you must remain in the home for at least fifteen years. If you absolutely must leave before then due to unforeseen circumstances, you will have penalties to pay.

Hold On – Penalties? What Are Penalties?

Think of penalties as taxes that you have to pay in some situations if you sell your home. If you have a reverse mortgage, you may have to pay capital gains taxes, if you are able to sell your home for more than it’s fair market price. For FHA Loans, you will have to pay back any tax benefits that you may have received as a result of taking a out an FHA Loan. Whether you have to pay back penalties in a lump sum, or whether you have the options of making those payments, there’s no need to add to your financial burden.

How Quickly Can I Sell My Home?

In Las Vegas, homes are often on and off the market in the blink of an eye. There is no right or wrong way to sell your home, and technically, you don’t have to wait for the ink to dry on your mortgage trying to sell your home again. If you do need to sell your home early and quickly, make sure that you’re considering all of the offers that come your way, and make sure that you bring on an experienced real estate agent to help you navigate the paperwork, and manage who comes in and out of your home.

Ricki Irwin
Ricki Irwin
00:06 24 May 19
This was so easy Casey was very helpful and kept in contact through the entire process thank you again for everything. Highly recommend this company.
Lela Leedham
Lela Leedham
03:08 22 Feb 19
Great experience working with Casey and Ryan. We would recommend them anytime. They are very knowledgeable and very professional.
Emily Binder
Emily Binder
21:16 18 Feb 19
Jennifer Gibbs
Jennifer Gibbs
19:58 18 Feb 19
A very impressive operation. Very professional and knowledgeable. They follow up when they say they will. Very helpful Team. If you're looking for a fast and fair cash offer on your home, these are the guys to call!
Mario Elizondo
Mario Elizondo
19:58 18 Feb 19
Very professional and a pleasure to work with.
Danny O'Bannon
Danny O'Bannon
19:53 18 Feb 19
I called 5 different companies from google trying to find a company that would pay the most for my rental and their offer was higher than the others. Extremely streamlined process. Easiest transaction I’ve done
Ross Greene
Ross Greene
18:04 17 Feb 19
Ryan & Casey were great to work with! Absolute pro's in the business. I would definitely recommend them. If only I could give them more than 5 stars. Hope to work with them again soon! Thanks guys!
Pam Dickerson
Pam Dickerson
23:53 15 Feb 19
Excellent customer service! Helped us through the entire process. Highly recommend!
steve Balsacker
steve Balsacker
19:35 14 Feb 19
Me and my wife had gone through a divorce and we wanted a quick way to get rid of our property so we could just move on with our lives, Thankfully Ryan came in and helped us out, I didn't have the time to deal with the headache of people coming in and out as well as all the repairs that were needed. He gave me top dollar for my home and I was out in 7 days!
jason almeida
jason almeida
16:52 14 Feb 19
We have seen their signs around town and thought it was a scam, we decided to give them a call and I couldn't have been happier with our experience. They were professional and knowledgable, they paid for all closing costs and even helped with our family move. Great guys and great company! Thanks again!
Peter Floratos
Peter Floratos
04:51 14 Feb 19
This team handles their business right. They are a pleasure to work with.
Tyler Hubbs
Tyler Hubbs
04:38 14 Feb 19
Ryan and Casey treated me with patience and respect during the whole transaction! Very trustworthy and explained each and every question I had!! I would highly recommend We Buy Any Vegas House!!
Dennis Ripley
Dennis Ripley
03:55 14 Feb 19
Very professional and very knowledgeable from start to finish. They went above and beyond to help me find what I was looking for. I would definitely recommend them.
Avraham Metal
Avraham Metal
01:58 14 Feb 19
As a Real Estate Agent I have sold properties to Casey and his Team. They are men of their word and have never let me down.
Dena Shapiro
Dena Shapiro
01:29 14 Feb 19
What an AWESOME experience!! Casey and Ryan are THE BOMB!! They either answer their phone ALWAYS or respond within minutes. They originally called to see if I wanted to sell but I wasn't interested in selling. However, my neighbor had to sell immediately so I referred them to her, she accepted their offer & they closed escrow within weeks. It would've been A LOT sooner but there were delaying issues on the seller side. Anyways, they got it closed & EVERYONE is happy!! Thank you so much Casey & Ryan :). YOU'RE THE BEST!!!
Ron Lorenzo Woods
Ron Lorenzo Woods
00:51 14 Feb 19
Great team with quick and professional service!
karina giraldo
karina giraldo
00:36 14 Feb 19
Knowledgeable, fair, and professional. I loved working with Casey. I did my research before selecting a company, and I’m so happy I went with them!
Cody Raynoha
Cody Raynoha
00:27 14 Feb 19
Casey runs a great company that's honest, easy to deal with, and is always fair. I'd absolutely work with him again!
Whitney Carter
Whitney Carter
21:42 08 Feb 19
Grateful to have worked with such a great company! Long story, short they really did help me through a tough time. No need to get into details, but this company really knows what they are doing. Thank you for all of your help with my home. Highly HIGHLY recommend!
Alan Giblin
Alan Giblin
23:01 07 Feb 19
I was shocked when I heard that We Buy Any Vegas House could sell my house so fast without any fees or charges at all. Thanks again guys!
Crosbey Proffitt
Crosbey Proffitt
22:48 07 Feb 19
I started off using a realtor thinking that I would be able to sell my home fast, but that wasn’t the case. I ended up reaching out to different companies and I ended up finding We Buy Any Vegas House. They were on it the second I reached out to them and were able to sell my home fast!
Investors
Investors
18:59 07 Feb 19
I have been in Real Estate for many years, it’s so refreshing to meet such professional, kind people to work with. We Buy Any Vegas House has great employees who are responsive and get things done quick. You can tell they have a true passion for what they do. If you are looking to work with a great team and you want to sell your house quick, I highly recommend this group!
Scott Henry
Scott Henry
18:53 07 Feb 19
We Buy Any Vegas House truly is one of the most reliable companies I have worked with. You can really tell that Casey and Ryan really care about what they do and really want to make you feel comfortable in the process. Thank you for all your guys help!
Ashlyn Mazur
Ashlyn Mazur
21:26 02 Nov 18
Most professional real estate company I've ever worked with! Would for sure recommend them!
Ashley Thompson
Ashley Thompson
18:59 02 Nov 18
I called 3 different companies and Casey was the most responsive. His offer was higher than the other ones as well. I really liked that they were a local company and everyone who helped me in the process was great to work with!
Katrine Baker
Katrine Baker
18:39 02 Nov 18
My mom and I had to move out of our house pretty quickly due to her martial differences. They were honest and extremely professional during the process and we are forever grateful to have worked with such a great company! Highly recommend!
Gregory Mitchell
Gregory Mitchell
00:26 01 Nov 18
Unfortunately, I never thought I would see myself having to get rid of my home, especially in a fast time frame. However, life happens, and I needed to sell my home quickly due to a death in the family. I reached out to 4 companies in Las Vegas, and We Buy Any Vegas House not only was the most efficient, but the friendliest, most reasonable, and compassionate. The other 3 companies did not even compare. Casey and Ryan have gone above and beyond to make sure that this worked for me. They truly care about you, which means a lot especially during a tough time. They put in the effort to care about the client first, as well as my family during this tough time. I am so grateful to have found them, and to top it off, they bought my house and put cash in my pocket in 7 days. Would recommend to all! Use this company, you can't go wrong! Thanks to Casey, Ryan and John!
Samantha Bonneville
Samantha Bonneville
00:23 01 Nov 18
We buy any houses is one of the most honest companies I have worked with. They are always upfront with issues of the houses, honest with fees And closings. We have not had a bad experience after 10+ Transactions
Alyssa Trent
Alyssa Trent
23:08 31 Oct 18
I worked with them to help my Mom sell her house and they were so amazing!! They explained to us exactly how everything worked step by step. I called them on a Monday and they got us cash by Thursday. Casey is such a genuine person.
Robert Johnson
Robert Johnson
22:10 31 Oct 18
After a tenant trashed my rental property, I was faced with the decision of remodeling or selling the property in its current state. I called Casey and he walked me through the entire process, start to finish. After factoring in the amount of time and money the remodel would take, it was clear that selling to them was the best decision for me. Within a week of my first contact with Casey and his team, we closed on the property and I had cash in hand. I'll definitely be reaching out to them in the future. THANKS!!!
Corey Trent
Corey Trent
02:33 31 Oct 18
I reached out to Casey and Ryan when I needed to sell my house. They were very professional and helped me through this tough time. They were able to buy my house and close fast. What a great team they are! I would recommend them to anyone. Thanks again!
John Washington
John Washington
02:24 31 Oct 18
As a very skeptical person I always believe that my best interest is not priority when dealing with people that want my business. I cannot name the countless times that I have been burned. After looking to sell my house for a cash offer, I was called by a lot of investors, most of which had very little customer service. Several didn't return call when they said they would and then when they finally called me back, they got anger when I decided not to use their Services. From day one Ryan not only treated me like is #1 customer but also treated my whole family like long time friends. I most also state that his offer wasn't even the highest. I took the lower off with him due to the fact that he help with crucial tax situations that I needed taken care before receiving them money so it wouldn't bit me in the butt later. He answered every call before and after the process was completed. 99% of others wouldn't have even answered a text once they got the money. Could I have made a couple of thousand dollars more with someone else? Sure, but the peace of mind in knowing that it was done the right way by someone who actually was professional and care was more than worth it. Ryan has made a customer and friend for life.
Green Girl
Green Girl
00:00 31 Oct 18
I was in a really tough spot because my Husband was in the Hospital and had passed away. I was completely unready for this and had discovered that there would be considerable expenses!  I had received several letters from companies interested in the property on an "as is" basis.  Most had never got back to me after I called them or were too low of offers.  I put an inquiry in their website and was immediately contacted by the Owner who was able to come the very next day!  The entire process was easy and professional.  Thank you We Buy Any Vegas House!
Mike
Mike
23:37 30 Oct 18
Casey and Ryan were so helpful! I was was a week from being Foreclosed and they were able to get me cash in my account in 5 days! And even let me rent back until I was able to find a new home!
Karl Workman
Karl Workman
21:03 30 Oct 18
This company was not only the most professional real estate company i've dealt with, but they're the most reliable and respond quicker than most companies i've ever dealt with. They were fast, professional, and knowledgable in all aspects of our deal. Would and plan to recommend them to all of my friends and family! 10/10.
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