How Much Does It Cost To Sell My Home?

If you are on the fence about selling your home, you're most likely wondering how much it will cost. The total cost of selling your home all depends on several factors. You'll have to consider the type of offer you accept, the commission you should be offering to the buyer's side, the amount of basic repairs necessary and many more bullet points.

Let's put some of these costs into perspective. Majority of homeowners (like you!) have a large amount of equity built up in their homes. This means they will make quite a bit of money when they sell. This can help make up for those selling costs. You will probably have enough leftover equity to go towards your next home purchase.

Let's take a closer look at a few of the costs from the graph above. You can save some money when it makes the most sense.

Closing Costs and Commissions

These are fees you will pay at the end of escrow. You as a seller will have your own closing costs and I would advise you to be open to the idea of paying some concessions ot the buyer as well. As U.S News Real Estate explains:

“Closing costs are fees that are paid to finalize the transaction and transfer ownership of the home to the buyer . . . Sellers can expect to pay 2% to 4% of the sale price of the home in fees and taxes on top of the agent commission. Based on the national median home sale price, this means that closing costs in 2023 for sellers are about $7,740 to $15,480. . .”

Taxes are going to vary depending on state and commission that is agreed upon upfront. The numbers above are an example not precise figures. If you put money toward items such as your property taxes, mortgage escrow and so on as part of your current mortgage payments you will likely get a credit back at closing that can help offset some of these selling expenses.

Pre-Listing Inspection and Repairs

It is a great idea to do a prelisting inspection as a seller. It will let you know what things to look out for when your buyer does their inspection. It is common for a buyer to ask for repairs or sprinkle in a concession amount to go towards their closing later.

You can also repair any crucial items so your house is ready to impress. Additionally, many important red flag repairs such as plumbing, electric and termite issues will save you from any lawsuit that could pop up down the road.

As your agent I can also give you great advice on cosmetic repairs, fresh paint colors and other things current buyers are looking for. This well help ensure you are most likely to net a good return on your investment.

Home Staging

As inventory starts to grow, staging is a great way to help your home stand out. Staging is an optional way to truly show the potential of your home. Staging can mean bringing in furniture to cozy up a vacant space or add some artwork to warm up some walls. On average, a staged home will speed up a home sale significantly and brings in higher offers. Staging can be customized to fit a certain budget, but how much does it cost? According to realtor.com:

"A general rule of thumb, the average cost for most stagers is $300 to $600 for an initial design consultation, and $500 to $600 per month per staged room."

If you decide to skip this step, I would highly advise you on strategic ways to declutter someof your home. This might mean adding a few area rugs to warm up a space or take down any personal photographs etc to strategic areas.

Why leaning on me as your agent is key

If you are looking to sell your home by cutting all costs, be very decisive on where you trim. You can get away with optional to-do's such as preinspection and staging but you really do not want to sell without a professional agent.

I know as your agent, I can add significant value through the entirety of your home sale transaction. From tailored financial advice to selecting the best offer. I am here to guide you through one of the biggest sales of your life. My goal is to ultimately help you sell your home with integrity while putting the most money back in your pocket.

BOTTOM LINE

Want a clear picture on what to expect when selling your house? Have a conversation with me.

Let's chat! (808) 388-7318.

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