After several years of diligently saving money, I’m nearly ready to purchase my first home. Because I’ve been thinking about buying a home for so long, I know exactly what I want my house to look like. I desire a place that has three bedrooms and three bathrooms. I also need a quiet space to set up my home office in. I want a massive, walk-in closet in my master bedroom. My master bathroom needs to have double vanities, a tiled, walk-in shower, and a Jacuzzi tub. On this blog, I hope you will discover how to set priorities during your new home search. Enjoy!
When you sell your home through a real estate agency, you will probably have to pay a commission that is between 5% to 6%, but that is not the only expense you will have. There are many other expenses you may have when selling a home, and it's important to plan on these things so you can set your asking price at the right amount. Here are some of the expenses you may have as you sell your house.
Expenses for repairs and maintenance to prepare your home
Unless your house is in perfect condition, you should plan on spending some money to get it ready to be listed. One common expense homeowners incur during this stage is for painting. A freshly painted house can help a house look nicer, and it is a common step people take just before they list their homes.
There are other expenses you may also have as you prepare your home, and this may include paying for some or all of the following tasks:
It's important to figure in all these costs as you set your asking price, especially if you complete any projects that add value to your home.
In most cases, the person buying the house will have to pay most of the closing costs of the deal; however, there might be times when a home seller agrees to pay some of these costs. This is often done as an incentive to encourage people to buy your home. If you agree to this, make sure you specifically state which closing costs you will pay for, or state a certain dollar amount you will pay towards their closing costs.
You might also be required to pay for some of the necessary inspections needed for the sale. This varies, though, and you can talk to you real estate agent to find out which ones you would be responsible for.
The other main expense you will have when selling your home is the costs required to move. If you are planning on hiring a moving company to assist you, there will be fees for that. If you need to purchase moving supplies, you will have to pay for those. All these items can add up, and it's always important to figure these in as you plan to sell your house.
As you plan to list your home, it's a good idea to figure out how much money you will need to spend preparing your house for sale, selling it, and moving. If you have questions about the expenses of selling a home, call a real estate agent.