What Do You Need To Know About Selling Your House After Owning It A Year?

What Do You Need To Know About Selling Your House After Owning It A Year

In real estate, it is usually considered a better idea to hold onto property for as long as possible. And according to some research, most Americans won’t consider selling for an average of 13 years. 

The main reason for this is the fact that selling a home is complicated. But real estate is a long-term game and it pays out over time. While markets can fluctuate, and even skyrocket, should you think about selling your home after selling for a year? 

After all, life can change in an instant. Where you are 356 days later can be completely different. But how soon can you sell a house after buying it?

This depends, but it is worth knowing the costs of selling a home after a year. And to answer the white elephant in the room of, “How soon can I sell my house?” or “How soon can I sell my house after purchase?”, whenever you want, but there are serious costs. 

Costs of selling your home after 1 year

Most real estate agents will agree, if you sell your property within a year you’re bound to lose on your investment. If you’ve been in the property for six months, just expect to lose out on capital. Selling a house within a year of purchase is an ill-advised financial choice in most cases. 

There are a number of costs you would not have made up since purchasing the home, these include: 

  • Staging the home and prep fees (when you’re selling your previous home)
  • Covering the standard 6% realtor commission fee
  • New inspection fees and repairs
  • Closing fees to sell, include title fees, transfer taxes, escrow fees, recording fees, and prorated property taxes
  • Your second set of closing costs when purchasing your new home
  • Seller concessions
  • Overlap costs
  • Moving and relocating again
  • Mortgage payoff

And to be honest, you’ve not even gotten to the heavy hitter of costs. Which you can avoid by selling a house after 2 years - capital gains tax. 

Capital gains tax

For any investor, capital gains tax is one of the largest pitfalls. If you actually own the home for longer than a year, maybe consider selling the house after 3 years, you still get taxed on the profit from your sale by 20%. This is depending on your current tax bracket. 

And if you’ve decided to sell your house after less than a year since you purchased it, you’re looking at a higher cut from the taxman. Since it was such a short period, the IRS considers the mortgage a short-term gain, and you’re taxed at the same rate as your income. This means depending on your bracket, you could be paying 37% on any profit.

There are ways around this. If you decide you’re selling the home after 2 years of living it full-time, You will not have to pay any capital gains tax on properties up to $250,000 for a single homeowner and $500,000 for married homeowners. 

If you just hold out for a few years you can minimize losses on your investments. 

But why would anyone take this plunge to sell their home so quickly, especially as it will raise a few red flags with new potential buyers? 

Maybe you can sell within a short period of time

There are a few instances where, in spite of conventional thinking, you should be selling a house shortly after buying it.

Large market appreciation

Currently, the market is red hot, and year-on-year price growth is skyrocketing. If there is a sizable spike it could be the right time to cash out, especially if there’s some sort of big change happening in the area that could affect prices down the line. 

You will need to punch the numbers to work out if this appreciation pushes you clear of the capital gains tax bracket. 

Forced appreciation via a house flip

As mentioned there are sometimes circumstances where you are aware that the property price has been inflated. There are two types of appreciation, forced and natural. 

Natural is the one we’re used to where there’s a gentle increase over time. While forced is where property prices are rising due to an influence in the area. In some cases, it is a dramatic increase in flipped homes. 

In areas where house flippers have descended into the market and renovated homes above their old asking prices, you could be stuck in a property bubble. This means you should cash out before the market has time to settle back to normal. 

Relocating for a career opportunity

When opportunity comes knocking you should always answer. And if your new home is tying you down you should make the calculated decision about whether you should move for a better career. 

Some may argue that you should investigate renting out the property to cover your mortgage and start building a property portfolio, but sometimes juggling multiple mortgages isn’t worth it.  

Rather take the hit and make a brighter future for yourself. 

Can’t afford the home or financial emergency

As we’re brushed over earlier on, the world can change in an instant. You can easily lose a job due to world events. 

When your cash flow is affected, you should make the tough call and cut back. If there are no other options, selling the home to cover your mortgage might be the best option if you’re stuck in a tight spot. 

It’s always better to come to the realization you’re in a tight financial spot before you start getting foreclosure letters and are required to negotiate your way to financial stability. Rather cash out before this happens. 

With emergencies, such as medical issues, expenses can run quickly into the thousands, crippling you and your family. Like the foreclosure situation, you don’t want to deal with liens on your property’s title that you’ll need to clear before selling your home. This can take years. 

And in turn, you’ll be locked in, unable to access your capital to help that special someone. 

While this is all said and done, how would you sell your home quickly and efficiently? And we’d suggest not cutting corners and doing it FSBO. Well, you can allow approach an iBuying service, like House Buyers of America. 

They are able to deliver cash in hand quickly so you can attend to those emergencies and soon-to-be mountains of debts. But which one should you choose? 

Why trust House Buyers of America to buy your home? 

Since 2001, House Buyers of America has bought and sold homes in Maryland, Virginia, and Washington, DC. During this time we’ve innovated the real estate game, as well as impressed thousands of customers. 

It’s this longevity and success that sets us apart. And if you don’t trust us, you can trust our hundreds of customer reviews. 

Currently, we have over 100 reviews with 5 stars, with testimonies from a select few! Most of these reviews highlight that House Buyers of America will: 

  • Sell houses fast
  • Pay cash for homes
  • Treat you with the utmost respect

House Buyers of America has also earned an A+ rating with the Better Business Bureau (BBB), which is an organization that helps United States, Canadian, and Mexican consumers find businesses they can trust. 

But it’s our positive rating on Facebook and Google we’re most proud of, with hundreds of positive reviews. 

When you’re selling your home you want to be 100% sure that you can trust the company you’ve contracted to help you. And nothing will put your mind at ease more than reading our clients’ reviews of our services. 

And because our clients have spoken about us with such fondness, we’ve been asked to contribute thought leader comments to various publications. 

Submitting our professional opinion to America’s most trusted media outlets, like: 

  • USA Today
  • The Wall Street Journal  
  • CBS News
  • ABC
  • NBC
  • And Fox

But how does House Buyers of America work? 

How House Buyers of America works

We’ve ensured that every step is simple, quick, and efficient. That’s why our first step is you approaching us. Simply give us a call at 855-659-3289 or use our online form to get started!


Within 10 minutes, if the call is made during office hours, we will have a fair cash offer for your property. Once we’ve gathered your information, we will arrange a time for us to come by the house to finalize that important paperwork. 


And once you’ve signed on the dotted line, the money will be in your bank account in a matter of days. It’s never been easier to sell your house fast

Get an offer with a click of a button

Sell your home directly to House Buyers of America and can skip all the hassle and months of uncertainty. Simply enter your address – and get our offer with a few simple steps.

Get an Offer

Ways to Sell Your House Fast For countless homeowners, the thought of selling a house as is can be a daunting challenge. One often imagines the leisure to smoothly navigate through the home-selling journey. However, as elaborated below, life throws curveballs like: Job transfers Growing families A sudden demise in the family Financial tight spots Divorce upheavals Relocating for fresh job prospects Mounting maintenance costs Such pivotal moments demand rapid action. That's where homeowners prioritize locking in the sale of their houses swiftly. Trusted partners like House Buyers of America have an upper hand with their comprehensive resources, ensuring homeowners receive competitive, fair cash offers and fast house sales in their tight schedules. Why "Sell My House Fast For Cash" Could Be Your Answer Ever stood in your living room pondering, "Can I sell my home for cash?" Many find the start of the selling journey mystifying. Perhaps, your residence has adorned the market for ages, making you wonder, "How do I expedite the sale?" Such queries aren't solitary. For those in haste, House Buyers of America extends a lifeline. Remember, opting for a cash sale is a lifesaver when the clock's ticking. Collaborating with an iBuyer ("we buy houses" company), like House Buyers of America, shuns realtor commissions with its sleek procedures. Their proposition: an "as is" offer. And if it resonates, your cash materializes in mere days. Related: The Average Time to Sell a House Scenarios Perfect for Our Services: 1. The Inherited Abode: Inheriting a house might sound dreamy, but sometimes it's more of a responsibility, especially if co-inherited or needing extensive repairs. Instead of plunging into rentals, the swifter sale is often preferred. House Buyers of America often collaborate with such families, turning potential fixer-uppers into quick cash. 2. Downsizing for Simplicity: Life stages shift, and a desire to minimize arises. If you're resonating with the "I need to sell my house fast for simplicity's sake" sentiment, know that the condition of your home isn't a deterrent. House Buyers of America promises a quote in just ten minutes. If you've found your next nest, it's wise to seal the deal on your current residence and avoid financial strains. House Buyers of America is your ally in such ventures. Related: Selling An Inherited House What to Consider Before Selling Your House for Cash Any house sale mandates due diligence. To optimize your outcome, being informed is key. At House Buyers of America, we always advise our clientele to weigh these factors before settling for a cash buyer: Time Constraints: Situations like job relocations, unexpected inheritances, or pending divorces vary in urgency. Depending on market dynamics and the state of your home, the sale might be instant or prolonged. For those seeking an assured quick sale, a cash offer might be the golden ticket. How Much Work is Needed to Sell There’s a lot of preparation that goes into selling a home the traditional way with a real estate agent. There’s packing, renovating, fixing up the house, listing photoshoots, home staging, and open houses—the list goes on. The only way to avoid these obligations is to opt for a “sell house for cash” program. These programs, like the one we offer at House Buyers of America, provide you with a fair cash offer based on the current condition of your home—no cleaning or prep work required. We work with you every step of the way based on your unique selling situation. Who Cash Home Buyer Programs Are Right For If you want a simple and hassle-free home sale, selling a house to a cash buyer might be your best available option. House Buyers of America is here to help sellers in those situations. We offer a competitive sales price for your house AS IS, no matter its condition, saving you the time and stress that would have gone into trying to sell on the market. So, what’s the benefit? A qualified company that buys houses for cash, like House Buyers of America, has the funds to make the purchase. You also get a guarantee that the sale will go through. That's never the case with selling a house to a high-tech real estate cash buyer like House Buyers of America. Also, when you sell your home fast to a cash buyer, you know they can process the payment much more quickly because they aren’t relying on lenders or third parties. This means that your house is sold fast, and you're free to move on to your next place. Of course, while working with an iBuyer is usually the best way to sell your home quickly (for cash or otherwise), there are still several other options that might be worth exploring: Related: The Top 6 Reasons You Should Sell Your House “As Is” For Sale by Owner (FSBO) Listing This method allows homeowners to bypass real estate agents. However, the onus of managing paperwork and attracting buyers falls squarely on the homeowner. This route can often be more time-consuming than anticipated, especially if the market is slow. Real Estate Listing This method has its merits, but the time and effort involved in maintaining the house for viewings, alongside agent commission fees, can make it less appealing for those wanting to Sell Your House Fast. Doing “Whatever It Takes” Selling a house requires effort, whether you're working with an agent, promoting it on social media, or hosting open houses. But remember, more effort doesn't guarantee a faster sale. The below statistics demonstrate why this is the case: The entire length of time it takes to sell a home is more than just the number of days your house is on the market. Before your house can be listed for sale, you must do your research to ensure selling your house is the right decision and also find contractors. That takes time. 86% of home buyers finance their homes, meaning they must wait for their mortgage loan to be approved before finalizing a purchase. That adds additional time to the closing process. It takes 30 days, on average, for a mortgage to be approved, and 50 days for the sale of a house to be completed (from initial offer to closing). On top of that, if the house needs a lot of work and the buyer is getting a construction loan—like an FHA 203K loan—you can expect another 90 to 120 days for that to be approved. Why The Traditional Route Might Not Be Fast Enough Traditional house selling methods often require time, sometimes stretching from 6 months to a year. This can be problematic for those seeking a rapid solution, making a "sell my house fast" approach a more appealing alternative. Our team at House Buyers of America is passionate about providing homeowners with a convenient and rapid-fast alternative that puts cash in their pockets sooner rather than later. House Buyers of America's Sell Your House Fast Process Have you ever thought, "I need to sell my house for cash now"? House Buyers of America's process is efficient and designed for speed. This approach is particularly beneficial for those eager to progress to their next life phase without the added stress of a prolonged selling process. The Experience of Selling Your House to House Buyers of America When you work with House Buyers of America, you're working with a seasoned, reputable company. With their history of buying thousands of homes since 2001, their process is streamlined, efficient, and trustworthy. Unlike traditional real estate agencies, we do not require you to: Clean or prepare your home for sale Be present for viewings or open houses Wait until a potential buyer receives loan approval Complete costly repairs Pay a commission fee Instead, we make the house selling process easy by: Providing you with a fair cash offer in just a few minutes Buying your property AS IS, no matter the size or condition Paying you cash upon settlement of your house Providing outstanding customer experience with our real estate team Offering cutting-edge technology to simplify the home selling process How We Make A Quick House Sale Possible If you are hoping to “sell house for cash quickly” or “sell house for cash fast”, we’re here to help. We make it possible for you to: Move forward with your life in a matter of days (not months or a year) Sell your home without cleaning or renovating Save money by avoiding commission fees and closing costs Walk away with cash in your pocket Why Sell Your House to House Buyers of America? In business since 2001, thousands of homes purchased We close on time You never pay any commissions (yep, none!) We work with your schedule If you sell your house to us, you have no worries, no commissions, and no delays. Why deal with the headache of staging a home, scheduling open houses and maintaining listings? Contact us now to sell your house fast and save time and money. We have bought thousands of homes since 2001. When you sell your house to us, you are dealing with a local, established company. You can visit our office and talk with us any time if you have questions or concerns. We even provide you with a real estate consultant to help you through every step of the process. Making the Right Choice for Your Needs While traditional methods might work for some, many find the efficiency and ease of a "sell house for cash" approach preferable. If a hassle-free, swift sale is what you're after, House Buyers of America might be your ideal choice. FAQ Why might someone want to sell their house swiftly? Reasons vary, from job relocations to financial challenges or even unexpected property inheritances. Is selling my house for cash a reliable option? Yes, especially when you want to sell your house fast without the regular market uncertainties. What advantages do iBuyers like House Buyers of America offer? They provide a streamlined process, no realtor commissions, and swift cash offers, among other benefits. Does the condition of my home affect the cash sale? Not with entities like House Buyers of America, as they offer to buy homes "as is." How long does it take to get a cash offer for my house? With House Buyers of America, you can get an offer in as quick as 10 minutes. Is it wise to downsize my home? It's a personal decision, often influenced by lifestyle changes, desires for simplicity, or financial considerations. What should I consider before selling my house for cash? You should assess your time constraints, the current market, your home's condition, and the reliability of your chosen cash buyer. Can I sell an inherited house for cash? Absolutely. Many opt for this to avoid the responsibilities and potential repairs of an inherited property Get Started Today There is simply no other method of selling a home that is this stress-free. We look forward to helping you sell your house as fast as possible. There’s a reason why we have so many five-star reviews—our process simply works. If you’re ready to get started on the process of selling your house fast, the quickest way to do so will be by filling out our online form or calling us at 855-336-7167. After you answer just a few questions, you’ll have the option to accept a fair cash offer, sign a sales agreement, and close the deal. We know it’s hard to believe, but really, that’s it! Sell Home Fast and Fast House Buying House Buyers of America is one of the leading services for people looking for companies promising a cash offer for their homes in Maryland. Are you looking to sell your home? Do you want your home bought now? Rely on House Buyers of America to buy your house fast, AS IS for cash without the hassle of commissions or a lengthy sales process. If you need more convincing, check out these customer sold homes stories. Call us now at 855-336-7167 or fill out our online form to get a cash offer in 10 minutes! Cities and Counties in Maryland Where We Buy Houses Aberdeen Adelphi Annapolis Baltimore Bel-Air Beltsville Bowie Burtonsville Bushwood Catonsville Chesapeake Beach Chevy Chase Chillum Clinton Colesville College Park Columbia Crofton Darnestown Edgewater Eldersburg Elkton Essex Fells Point Fort Washington Frederick Gaithersburg Glen Burnie Greenbelt Gwynn Oak Halethorpe Havre De Grace Hyattsville Indian Head Lanham Leonardtown Lexington Park Lochearn Marlow Heights Mechanicsville Milford Mill Monkton Monrovia Montgomery County Mount Rainier Nanjemoy Olney Oxon Hill Pikesville Potomac Prince George's County Randallstown Rockville Rosedale Walkersville West River White Plains And more! We’ve worked hard to establish the best platform for quickly selling your home in Maryland. With our “We Buy Maryland Houses” program, you can quickly get your home off your hands, all for a very fair price. We’d love to chat more about finding ways to sell your Maryland property and help you achieve your long-term financial goals. Why You Should Use House Buyers of America Selling a house is stressful enough, even if you live in a very competitive state for housing like Maryland. When you add in the trials of trying to sell your house during a personal financial emergency or the emotions of an estate sale, it can be overwhelming. Let House Buyers of America buy your house; as suggested, we buy houses in Maryland and we put a lot of pride into our work. Here are just a few ways House Buyers of America can make a real difference: No Commission Yes, you read that right. House Buyers of America takes no commission when buying your home. This frees up at least 6% in the value of your home, significant savings that you can apply to your next home. With Maryland’s high real estate values, that means you could potentially save tens of thousands of dollars. With no commissions, you can be assured that you get a fair price for your home. Related: Three Tips to Sell Your House Fast for Cash Fast House Buying House Buyers of America promises to get you an offer within 10 minutes over the phone. It doesn’t matter if you are trying to sell a home in Maryland, Virginia, D.C., or any of our other markets. That means no more waiting on real estate agents to list your home and then receiving an offer from a potential buyer in weeks or months. Close in as Little as 7 Days Some companies will tell you “We buy Maryland houses in 7 days,” but they don’t have adequate capital or a fully staffed office to accomplish this. House Buyers of America’s goal is to buy houses in Maryland in as little as 7 days because we try hard to ensure we buy it as quickly as possible. We have plenty of capital—enough to buy many more houses than we’re buying now. Plus, we have a fully staffed office ready to handle any new deals. Our commitment to a speedy sale is a hallmark of House Buyers of America. Any Condition, AS IS This is not a gimmick. We buy houses AS IS in Maryland, in any condition—from a tear-down to relatively new houses. Whether it needs tons of repairs or no repairs at all, our purchases are not made based on the condition of the home. Our offers are made in cash for any condition and on an AS IS basis. When Should You Use House Buyers of America? Clients of House Buyers of America range across demographics, ages, and financial situations. We help make it possible for Maryland homeowners to achieve their financial dreams. As a result, there are certain reasons why our customers tell us why they sell their houses to us. Job Transfer Did you just get a promotion that requires you to relocate? Or maybe your local office is closing down and you have to relocate to another city quickly in order to keep your job. Whatever your job transfer needs are, we offer cash for your home and we can close quickly. Buying a New House Perhaps the thought of juggling the sale of your current home and purchasing a new one at the same time in the same local market might be creating a lot of stress. Have you considered having to have your home staged and then factor in coordinating where to live after you sell? What should you do? Put a home sale contingency in an offer to purchase a new house and risk making your offer much less competitive. Or should you buy a house first and then risk not being able to sell your current house, leaving you stuck with two mortgages? This is the age-old real estate dilemma. If you’re in this situation, you’ve come to the right place! With House Buyers of America, you get a guaranteed sale of your house and we’re flexible on the closing date (and no closing costs). After the purchase agreement is signed, your home sale is covered and you can start looking for a new home without worrying about selling your existing home. Divorce Divorce can be a huge disruptor, emotionally and financially. In most cases, the divorced couple needs to sell their house fast so they can divvy up the assets and make a clean break. Many in a divorce situation look for a “sell my house fast Maryland” company so they can sell their house without having to go through the arduous process of a traditional sale. Finding a real estate agent, renovating, cleaning, and staging the house, agreeing on a list price, negotiating the terms of the contract, etc. This is normally a stressful enough task, but if you add divorce into the mix, it feels impossible. Why not pick up the phone and get an offer in 10 minutes? Or simply fill out our online form and get an offer quickly. No need to renovate, stage, select a Realtor, and deal with people traipsing through your house and losing all of your privacy for 6-12 months. Real solutions are well within reach. There is an alternative: House Buyers of America! Financial Distress Are you in a financial bind with thousands of dollars locked away in your home? Most people do not realize they can directly access the accumulated equity of their home in their hands in as little as 7 days until they contact House Buyers of America. We offer fair prices for when you need an immediate cash infusion to stave off foreclosure, bankruptcy, or whatever life throws at you. Medical Emergency, Retired, Downsizing Some of our clients are elderly and have stayed in their homes for years, but have stumbled into a medical emergency and need the equity in their homes to pay for hospital bills. When this is the case, whether you are a homeowner or a care provider, you might need to sell your Maryland home quite quickly. Others simply want a hassle-free solution for downsizing into a smaller home and want equity in their legacy home. Estate Sales House Buyers of America have also helped thousands of people who have suddenly inherited an unwanted or unneeded property. When dealing with an estate, many heirs can’t decide or agree on when to sell the house or who will take care of the paperwork, so the house is left sitting vacant and deteriorating for months or years. Estate sales can bring out the worst in people and families often get torn apart in the process. The traditional real estate process can be complicated and often doesn’t work well for estate sales. The unique estate laws that apply in Maryland can also create some additional complications. So why not try a simple, fast, and hassle-free solution that all of your family members can agree on? Get an all-cash offer in as little as 10 minutes by contacting House Buyers of America. A Fresh Start We’ve talked about several reasons you might want to sell your Maryland house to a cash buyer. Then there are those unfortunate circumstances in life that require a complete and total liquidation of your assets when you need a speedy exit from your current home and town. By getting an all-cash, guaranteed offer from House Buyers of America and getting your house sold in as little as 7 days, you get that fresh start without waiting. That’s why we continue to be the choice of people looking to “sell house fast in Maryland,” as well as other nearby states.