Are you thinking about selling your house?
If so, you’ll need to make sure you have enough money set aside for the selling process. We all know that buying a home is expensive, but there are plenty of unexpected costs that come up when you sell your home as well.
Keep reading to learn the answers to questions like, “how much does it cost to sell a house?” and how to make the process less expensive.
How Much Does It Cost To Sell A House?
Selling a house doesn’t have to cost a fortune, but you do need a small budget set aside to cover some necessary costs. Here are four costs that come up when you sell a home, and how much you might need to budget for each item:
1. Preparing to List Your Home for Sale
The real estate market is often competitive, so you might need to invest some money into your home before you sell. Spending some money during the selling process will give your property the best chance of selling quickly and for the best price.
You might need to do some repairs, hire a professional cleaning service, or buy furniture and accessories to stage your home. You’ll also need professional photos, as quality images are more likely to attract buyers.
2. Moving out of Your Home
Sometimes you’re selling your property as is for cash, which means that staging and other renovations aren’t necessary. However, you’ll still need to get out of your home quickly, which likely means hiring movers or finding a temporary place to stay before purchasing a new property.
These costs will vary greatly depending on where you live and how many personal belongings you have to move, but it could be thousands of dollars when the move is over.
3. Making a Deal With Buyers
Nearly 83 percent of sellers make some kind of a deal with buyers during the selling process. This usually means that the seller agrees to cover some costs, which commonly include a home warranty for buyers or covering the cost of post-inspection repairs.
These costs will go up or down depending on what kind of agreement you and your buyer reach, but it could cost you a lot of money.
4. Closing Costs
Closing costs are one of the most significant expenses during the home selling process. Most sellers need to be prepared to cover the closing costs, and these costs are usually 8 to 10 percent of the home’s selling price. You might have to cover more of the closing costs or less, depending on what you negotiate with the buyer.
Learn More About Selling Your Home
Selling your home might seem like a long and expensive process, but it doesn’t have to be. Now that we answered, “how much does it cost to sell a house?” you probably still have plenty of questions about the selling process and how you can reduce costs as much as possible along the way.
Make sure you check out the rest of our website for helpful tips that will allow you to sell your home as quickly and inexpensively as possible.
