If you’re thinking of selling your house, you are probably wondering how much it will cost. The final number will depend on the offer you accept, helping with buyer’s closing costs, repairs to tackle, and more.
Here’s some information on a few of the expenses you will want to be ready for.
Here’s something that puts those costs into perspective. Most homeowners have a substantial amount of equity built up in their homes. That means they stand to make significant gains when they sell. This can help recoup these selling costs. You may even have enough equity leftover to put toward your next home purchase.
Let’s take a look into a few of the costs from the graph above.
Closing Costs and Commission
These are the fees you will pay at the closing table to cover various aspects of the sale. You’ll have your own closing costs and you may even offer to pay some of the buyer’s as a concession.
Taxes are going to vary by state and agent commissions depend on what you agree upon upfront. If you put money toward things like your property taxes, mortgage escrow, etc. as part of your current mortgage payments you may get a credit back at closing. This could help offset some of these selling expenses.
Pre-Listing Inspection and Repairs
One optional step some sellers take is having a pre-listing inspection. It gives you an idea of what may materialize later on in the buyer’s inspection. Those are the items a buyer rmay ask you to toss in a credit (or concession) to cover later on.
This allows you to get a jump on any repairs and tackle them before you list.
Home Staging
Staging is an optional way to make sure your house shows well. It can include bringing in rental furniture if the house is vacant. How much does this cost? Home sellers typically pay somewhere between $782 and $2,817 in home staging costs….but the price tag can vary widely.
If you want to skip this step, I can advise you on what would make your home more appealing to a prospective buyer.
Why Leaning on an Agent is Key
If you are looking to cut down on your costs, you have options. But be careful of where you trim. I can offer customized advice every step of the way, including how to stage the house and what repairs to tackle. This can help you avoid hiring an outside stager or having to pay for a pre-listing inspection. I will also create a tailored marketing and pricing strategy that will highlight the house’s best assets and any work you did to get the home show ready. And that can actually help your house sell for more in the long run.
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