4 Unexpected Expenses When Selling a Home

When you’re selling a home, most people have their minds on the money that’s coming in more than they do on the money they may need to spend. 

Although receiving a couple hundred thousand dollars may sound nice, realizing you have to spend a few thousand dollars can dampen the mood.

Here are four expenses that show up when you’re selling your home so that you won’t get blindsided by costs!

Expenses you will have to make when selling your house

Staging

If you want to convince someone into buying a home, it’s easier if the place gets dressed to the nines. 

Unless you’re an interior decorator that’s okay with leaving your furniture there until your home sells, most people don’t have a magazine quality home.

Unfortunately, dressing your home to the nines isn’t cheap to do.  House staging companies charge, on average, five hundred dollars a month.

The consultation, before you even get the furniture, can easily cost three hundred dollars.  If your house doesn’t sell right out of the gate, this could quickly rack up a cost that goes into the thousands.

The good news is that staged houses sell faster and for more money if you can hold out!

 

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Realtor Fees

If you’re currently working with a realtor to sell your home, you may be giving up to two percent of the money your house makes. 

This expense can add up quickly and take off the money you’d hope you could put toward your next home.  There’s a reason they’re so expensive

Realtors make sure to get people into your home since it’s their job.  They can get your listing on more sites and will work harder to get people into your door.  If you want a realtor, be prepared to make the price.

 

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Home Repairs

If you have trouble selling, and a buyer puts in an offer as long as you cover repairs, you might have to agree to their terms.

The buyer has to deal with a lot of expenses, probably hunched over a house payment calculator and will try to get you to lower the price as much as possible. 

You should be flexible, but make sure to be reasonable and not bend too much.

 

Inspection

Nobody wants to go into owning a house blindly; we like to know that the place we picked is safe and will last for years to come. 

Because of this, everyone has to get a home inspection.  A home inspection can cost from two to three-hundred dollars. 

There’s no getting around this expense since most realtors require one- and most buyers won’t even look at a home that won’t get inspected. 

Certain testing, like radon or mold, can cost more but maybe worth it depending on your home location.

You’ll be making a lot of money from your home, but that doesn’t mean you’ll get off scot-free! 

Budgeting and planning ahead will make sure that you keep the most of your money to put it towards your next fantastic home.