As a home seller, you likely have questions about what it will cost you to sell your house successfully. Knowing the costs associated with selling can help you plan accordingly and ensure that nothing gets overlooked during the entire process. From verifying market value to paying debts like real estate taxes and closing costs, there’s a lot for sellers to consider when getting ready for their home sale journey. Selling a home can be intimidating and understanding the associated costs can make it easier to plan for and navigate. Here’s what you need to know about the costs of selling your house.
Maintenance and Repairs
Before listing your house for sale, you must ensure every element of your home is in outstanding condition. This may involve repairs and maintenance, such as fixing leaky faucets or replacing a broken window. You may also need to invest in carpet or flooring, new screens for doors and windows, faucets, light fixtures, and minor updates like paint, electrical plate covers, light switch covers, doorknobs, locks, and more. Depending on the condition of your home, these costs could add up.
There are several reasons it’s vital to prime your home for purchase. First, you’ll feel good about yourself knowing you’re engaging in an honorable sale. Second, you’ll be able to demonstrate to buyers that your property is well-kept, maintained, and in great shape. But also, the house will undergo a mandatory inspection before the sale closes. If it fails the inspection, you may be responsible for making additional repairs before closing the sale or negotiating with the buyer for a price much lower than you bargained for.
If you’re willing to make the investment, you may find it worthwhile to get new, energy-efficient appliances for the home to give it a fresh look with practicality.
Curb Appeal and Staging
When it comes to selling a home, there’s no denying that curb appeal and effective staging can work wonders.
Curb appeal is essentially the attractiveness of a house as seen from the street — not just what’s on the inside or the architecture, but also the landscaping, paint job, garage door, and fencing.
Staging involves cleverly arranging furniture to make your home look spacious, inviting, and attractive.
To achieve beautiful curb appeal and effective staging, you’ll likely need to invest in a few items such as pressure washers, landscaping materials, professional cleaners, and accessories – all of which can come with varying costs. But with some thoughtful planning and budgeting, you’ll be able to get your house looking its absolute best for potential buyers!
Professional Photography and Videography
When a potential buyer is browsing through listings, you can bet that the ones with beautiful photos and videos will get more attention than those without.
Professional real estate photographs and videos can help capture the beauty of your home, making it more attractive to buyers and bringing in more showings.
Though there’s an additional cost associated with hiring a professional photographer or videographer to shoot your house, many sellers find that their investment pays off after they receive offers from interested buyers – the extra attention can make all the difference.
If you’re looking for added value for your listing, professional photography and videography services can help showcase your home in its best light and draw in interest from potential buyers. Of course, this comes with a price tag, but it can be well worth the cost.
Real Estate Agent Commissions
Another significant expense when selling your home is the cost of real estate agent commissions. Most real estate agents charge around 6% of the sales price. That means that if you’re selling your house for $250,000, you’re handing over about $15,000 off the top. However, there’s no greater investment when selling a house than hiring the right real estate agent.
An experienced seller’s agent is a real estate professional who provides exclusive representation to the home seller throughout the entire sale process. Their job is to obtain the highest possible price in the least amount of time and with the least hassle for the homeowner.
As their client, you will benefit from their expertise and knowledge of local market trends, pricing strategies, negotiation tactics, and more. In addition to guiding you to a successful closing, a seller’s agent also helps create efficiencies in order for sellers to save money in both the short term and in the long run.
With an experienced seller’s agent on your side, you can rest assured knowing that all aspects of your sale are professionally managed!
Other Seller Closing Costs
In addition to the items mentioned above, there are other costs for sellers to consider when selling their homes. These include closing costs, such as title insurance and transfer taxes; escrow fees; property taxes, and more. It’s also not uncommon for buyers to ask the seller to pay part or all the buyer closing costs, too. This adds up to thousands of dollars.
Moving Expenses
A final factor not to be overlooked is the cost of moving out of the house you’re selling. This includes small expenses like bubble wrap, packing boxes, and tape – to big expenses like professional movers, moving trucks, and more.
Price Accordingly
When it comes to selling your home, you want to make sure that you factor in all the costs associated with the sale. When pricing your home, take into consideration all associated costs – from the paint job and staging expenses to real estate agent commissions and closing costs – so that you can price your house accordingly.
The success of a real estate transaction depends on making smart financial moves. To maximize the return on your investment, have a budget prepared before you list your home and calculate how much it will cost
Conclusion
Selling a house is no small feat and involves a range of costs, from curb appeal to closing fees, so it’s important for sellers to be aware of the expenses associated with selling their home before they get into the process. Armed with this knowledge, you can plan ahead, and budget for the costs that will help make your house show in its best light – and ultimately get you top dollar for your investment.
For more insight as to what it costs to sell your house and how you can save money during the process, contact your local real estate expert today.
