The Hidden Costs Of Selling A Home
There are hidden costs of selling a home.
Selling your home isn’t cost-free. There are multiple expenses involved. Some costs are well known, but there are hidden costs of selling a home. This is especially true if you’re doing it yourself, that is, without employing the services of a real estate agent. These costs include:
Upgrades and remodels
You want your home to attract buyers, so giving it a facelift may e inevitable. You could need to do a thorough cleanup, which might require you to hire professional home cleaners. Painting the house you’re selling afresh is also something you cannot avoid if you want to sell it fast and at a good price. You might need to do some repairs, too, and replace old parts. While you cannot wish these costs away, you can always bring them down. By painting the house yourself, for example, or renting cleaning equipment instead of contacting a cleaning company.
Advertising fees
To reach as many potential home buyers as possible, you need to create a sales ad. This is one of the hidden costs of selling a home. Posting your listing, whether on an online or offline forum, will cost you. True, there are free online platforms on which to place your ads, but they tend to be overcrowded, and your ad may risk getting lost in a sea of similar listings. To be certain that your ad stands out, you may find paid-for media platforms to be better.
Home-ownership expenses
There’s no guarantee that you will find a buyer immediately after you put up your home for sale. It can take up to one month (or even multiple months) to get an offer and even longer to actually close. This depends in part on the level of exposure the ad gets. During this time, you will still be paying for the charges associated with owning a home, like paying the mortgage, getting your lawn mowed and paying gas and power bills. It becomes even tricky if you’re still living in the home you’re selling, and the costs of upkeep are on you, plus the cost of moving once you find a buyer.
Indirect real estate agent charges
Despite the fact that you’re not involved with a real estate agent, you will find their costs creeping in. Not in a direct way, but in the form of the fees charged by the agent commissioned by the buyer. It lowers the total amount you take home after the sale, though not in a big way. This is among the top hidden costs of selling a home.
If you’re embarking on a home-selling process, it helps to be aware of the costs you’re bound to incur during the sale. It prepares you to avoid unnecessary costs and to reduce the ones you cannot avoid. Not drifting off your target budget is advisable. And if some costs go beyond your expectations, be sure they’re within a range you can comfortably afford.
If you’re just realizing the high level of hidden costs of selling a home, we at Reimagine Realty Solutions can help. We help homeowners sell their houses quickly, in any condition, in the Austin area. We offer our services to sellers who:
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Want to make a fast sale for their home
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Are unable to sell their home( reasons may vary, but we still help)
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Are not comfortable dealing with real estate agents
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Are wary of the huge commissions paid to real estate agents