Even though a real estate agent will charge anything between 5 to 7% in commissions to sell a house, the average cost of selling a home tends to be higher. The costs could increase exponentially depending on where you live as there are some laws that might not be favorable. There are some common costs like repairs, relocation costs, and closing costs which could significantly impact what you get when you finally sell your house. This post is supposed to highlight the true cost of selling a house as not a lot of people want to talk about it.
Preparing Your Home For Sale
It is important that you ensure your home is market-ready before you put it up for sale. There are four main costs that you should consider when preparing your home for sale.
Staging Costs: This can be as much as 1% of the sale price depending on the type of staging in place.It might be a good idea to do a staging if you’re looking for “sale my house fast” on Google as there are expenses involved. Staging is done so that prospective buyers can have a feel of your house and how the living spaces would look like if they were living in the house. Hiring a professional can be expensive and you should expect to pay up to $3000. You can save money by doing the staging yourself but the outcome might not be satisfactory compared to that is done by a professional.
If you decide to do it yourself, you should consider what is needed in order to bring out the best features of your house. You might need to invest in new paint, furniture, and lighting fixtures. You should also think about hiring professional cleaners to do a deep cleaning of the house.
Landscaping Costs: The outside of the home is just as important as the inside. The curb appeal is the first thing someone will see when they pull to your driveway. A poorly maintained landscape can turn away a potential buyer and it doesn’t matter how beautiful it is inside the house. Professional landscaping should not cost more than a few hundred bucks but will go a long way in ensuring the exterior aesthetics attract potential home buyers.
Home Repairs And Maintenance: It will be disastrous to put your home on the marker when there are major repairs to be made. It could be the main reason why the sale is not going through despite the consistent marketing efforts. You need to make sure that the house is in good condition if you intend to sell it the traditional way. Make sure the home is inspected for damaged features before you put it up for sale. You can find a home maintenance checklist online which will guide you on the inspections that need to be done before you decide to sell the house.
The other alternative would be to go for a pre-listing inspection so that you’re not caught off guard with potential problems with the house. The cost of repair will depend on the overall condition of the home. You should decide if you can do the repairs or on your own or hiring a professional. Make sure you’re getting quotes for multiple contractors before making the hiring decision.
Home Improvements
Although not necessary, home improvements could increase the value of the home. You don’t need to break an arm and a leg in order to do the renovations. Sometimes a simple improvement like washing the exterior can improve the curb appeal of the home. This could also apply if you’re looking for “sell my house fast” on search engines.
It makes sense to focus on small renovations which have the potential of adding value to the home. Instead of a full kitchen haul, you can repaint the cabinets and replace the countertops. You will not have to spend a lot of money but they will be improvements that a discerning home buyer will notice.
Agent’s Commission
A real estate agent is responsible for making sure that the house sells at the best rate in the least amount of time. That is why it is important that you look for an experienced real estate agent who is experienced in selling homes. You’re likely to pay 5-6% of the sale price as commission fees to the real estate agent. Although you can sell the house without an agent, it could take longer and there are a lot of complications involved.
