
With so many reality real estate shows on TV today, it sometimes seems like there's nothing to buying and selling houses. How hard could it be? In less than 30 minutes, each program showcases even the most rundown home as an instant seller after a little renovating and staging. Don't get us wrong — our real estate agents love these fun shows as much as you do. However, the realities of the real estate market aren't always as sunny.
The cost of selling your home might shock you. From planned renovations to unexpected repairs, a wiser seller knows that you've got to spend money to make money. Here are a few hidden costs involved in selling your home:
- Repairs/Renovations
Although you may believe that your home is ready to sell as-is, performing a few quick fixes around the house can increase its value. Interior painting, new flooring, replacement garage doors, and updated appliances are a few of the smart investments you can make to increase the appeal and value of the property. - Presentation Services
While repairs and renovations are one-time expenses, you'll likely need to hire a few service providersrequiringmultiple payments. Hiring a lawn care service is key to maintaining your home's curb appeal. You may also choose to hire a cleaning service to ensure the interior of your home looks and smells good too. Another weekly service to consider is indoor and outdoor pest control. Though you can leave it empty, some sellers like to rent furniture and have their home professionally staged. Depending on how long it takes to sell your home, these services may require a few weeks of payment that you didn't anticipate. - Taxes
Before you list your home, you should discover if your city or county has a transfer tax. This fee is usually a percentage of the sale price that could range from hundreds to thousands of dollars. Keep in mind that your state may also require you to pay a property tax for the year you're selling the home. If you earn more than $250,000 on your sale, you may owe a capital gains tax as well. - Closing Costs
Although these are usually the responsibility of the purchasing party, many buyers will ask the seller to paythe closing costs and any additional fees like the title policy. You can certainly negotiate with the buyer on many of these costs, however, it's always wise to budget accordingly. Thankfully, a great real estate agent can help you negotiate soyou and the buyer can come to a fair agreement. - Moving Costs
This is one "hidden" cost that many sellers overlook, especially when they're trying to sell their home quickly. Moving costs involve much more than simply packing and transporting your possessions. If you're moving long distances, you'll need to budget travel expenses as well. Depending on the size of your home, you may also need to plan for additional purchases such as miscellaneous home furnishings, repairs, or renovations.
There are many costs involved during the home selling process. However, many of these expenses can help you get the most for your home.
For help selling your home while minimizing your costs and maximizing your sale price, contact us today.



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