What Costs Go Into Selling a House?
As exciting as selling a home is, it's not free. Some costs come out of the sellers' wallets to ensure that the sale goes smoothly. Although you can avoid a couple of these if you can't afford them, most of these items are necessary if you want to sell your home quickly and for a good amount of money.
Inspections, Fees, Taxes
These expenses are the basic costs that every homeowner has to come to grips with. Your home has to be inspected to ensure there are no termites, there’s no rot, and there aren’t any hornets or ants building nests in your walls. An inspection can cost a couple of hundred dollars, which can be frustrating.
On top of this, there's an escrow fee, the taxes sellers have to pay on the sale, and whatever other fees pop upon them. These can add up to two to four percent of the home's value.
Staging is the most well-known secret in the home selling sphere. People who want to sell their homes faster and with more money know that this step is a must. Filling your home with gorgeous and well-placed pieces gives you the chance to create a space that’s unique to you and appetizing to customers.
Renting furniture can be expensive, depending on the service you use. Although you could use your furniture, unless you keep up with the current home goods trends, it won't have the same effect.
While your home is on the market, it's going to be vital that you keep it looking its best. The best way to do that is to hire lawn maintenance, but this isn’t cheap. Meanwhile, sellers still have to pay for electricity, water, and any other expense that the house accrues while sitting on the market.
Agents or Realtors
It's no secret that agents and realtors often get homes sold faster than those who go it alone. Instead of struggling and going over a seller closing costs calculator, many turn to this pro who knows what the market wants.
Unfortunately, their work isn’t free.
An agent or realtor's expertise can cost sellers three to six percent of the home price when it sells. This can add up to a lot of money and shouldn't be overlooked when figuring out the costs that will come from selling.
Repairs or Changes
Sometimes in a buyers’ market, sellers get desperate and are willing to do anything to get a home sold as quickly as possible. Unfortunately, that can often mean having to pay for repairs, changes, or fixes that they didn’t care about doing before listing a home.
Sometimes it can be a small change, like hiring a cleaning crew to scrub down the kitchen: or it can be huge, like having to put up a wooden fence around a pool to keep kids safe.
These can add up quickly, and sometimes it's easier to offer a discount on the home price instead of having to deal with it.