How Much Does It Cost to Sell a House? Before Setting Your Sale Price
How Much Does It Cost to Sell a House – Feeling fed up with your current house?
Well, hopefully, it isn’t your reason to sell the house.
If you feel it’s time to start a new adventure with new comfy haven,
or any appropriate reasons underlying your decision to sell your house,
it’s important to know how much you should sell the house.
If you wonder how much does it cost to sell a house, please keep reading.
This article will help to reveal what needs to be paid during your journey of selling a property.
How Much Does It Cost to Sell a House and What Should I Pay during the Sales?
Based on most people experiences, on average, it costs the seller around 15-20% derived from the sale price to sell the house.
Taking the highest percentage,
if you’re selling your house for $300,000, it means $60,000 goes as sales’ expenses.
Sounds scary, already?
Well, hopefully not. There are stuffs to be done before the house become the new owner’s.
What are these stuffs and what’s the percentage?
For this, it usually takes around 5-6%.
Let’s say the home sale price is $300,000; then the agent deserves $18,000 as commissions.
Is it worth it to pay for an agent?
Of course! With the help of an agent, it gets easier to deal with the marketing,
‘luring’ the buyer, and working the muscle on the negotiating table.
The six-percent commissions sounds just right – there are data that shows the sellers who work with an agent successfully managed to get better end-price.
Smart marketing does work wonder.
Repairs – How Much Does It Cost to Sell a House
Home repair, especially the major ones,
is taking quite similar sum of money with an agent’s commission: 5%.
It means, you should allocate around $15,000 to pay for the repairs.
Keep in mind that nicely-functioning house will higher its chance to get more reasonable price.
Hence keeping the buyer from dodging away!
Read more: Difference Between Real Estate Agent, Broker, And Realtor – How Much Money They Make?
For a faster sales, aesthetic is quite essential.
What can be included as home staging?
It can be anything that serves as redecoration.
Starting as basic as hiring a cleaning service,
renewing the kitchen cabinets,
installing new and brighter lamps,
wall-chips dismissal and repainting,
or even hiring a gardener to work the dull green space – budget is around 1%.
How Long Does It Take to Buy a House? Well, It’s Not that Fast!
Moving costs – How Much Does It Cost to Sell a House
With similar percentage as the home staging,
the money is budgeted to pay for hiring a moving company or renting a moving truck.
Although it’s typically the buyers who pay for it, it’s safer to save a little fortune to cover problems.
It can be safer if you plan it to take around 1% of the sales,
which is usually used focused on fixing the house’s utilities.
Lastly, closing costs take around 3-4%.
This payment refers to any service fees that require closing the deal, getting the paperwork done,
paying the attorney,
and paying the related taxes.
To sweeten the deal, some sellers may even compensate for the buyer’s expenses.
However, this one is optional.
Plus, if you have remaining mortgage balance, the sum of money you’ll get is to be paid for it as well.
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Hope that the information above answers your question ‘how much does it cost to sell a house?’.
Bear in mind that this budgeting may not work for everyone.
You can save some especially from that staging, home inspection, repairs, and moving costs budget.