Only a third of homebuyers in 2019 were first-time homebuyers.
That means a majority of the other 2/3 were most likely trying to buy and sell a home. Selling a home comes with a laundry list of responsibilities and tasks to complete. It’s no walk in the park.
Not only is there a ton of responsibilities to keep up with, but it also takes a chunk of money to sell a home. Figuring out that cost is tricky.
We’ll explain the cost to sell a house below. Keep reading to discover the truth.
What Does It Cost?
The average cost to sell a house is about 10-15% of the overall cost of the house. Depending on what renovations you decide to make before you sell, the cost could come out to be a different number.
We know 15% is a lot for some people. We’ll help you with the breakdown of it all. If you’re struggling to fix up and sell your home due to large costs, you might want to consider a we buy houses company.
Before selling a house, it’s important to put some of your money towards maintenance. We all know there are certain things in our home we’ve learned to turn a blind eye to. Fix them up before showing the home.
Schedule inspections to see what needs to be fixed. Evaluate your HVAC system, the roof, and the different windows and doors of the home. If the walls are a bit scratched, a new coat of paint wouldn’t hurt.
You’ll also want to fix any broken kitchen and bathroom appliances. Not fixing them will greatly affect how your home sells.
Don’t Forget Your Agent
It’s important you don’t forget commissions for your agent when selling a home. Before signing with an agent, work out a written agreement highlighting all fees and commissions.
You might also find yourself spending money on advertisements for your home. Are you printing flyers to advertise it? Can you hire a photographer to take staged photos of the home?
Money for Moving
Take time to add up all of the costs you’ll need to physically move your belongings. Think about a truck, moving help, boxes, and tape. All of the little things add up quickly.
If you aren’t moving very far, try moving some things by car to your new home. Ask a friend or family member to help.
To reduce the cost of moving, throw away anything you don’t need. Have a yard sale to get rid of things you’ll never use again.
Money Matters: The Cost to Sell a House
The cost to sell a house might be different than what you’d think. Make sure to read above for a more honest answer about moving costs.
It’s important to have money set aside for maintenance and cosmetic repairs. You also can’t forget to pay your agent. Lastly, remember to add up all the costs you’ll need for moving supplies.
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