Potential Hidden Costs When Selling Your Home
If you are considering selling your home, it is important to consider all of the factors that can go along with getting your house ready to list. While every situation is different, and can be greatly impacted by things such as how well the home has been maintained over time, it is important to consider costs that you may incur.
Preparing the House for Sale: This can be as simple as having the home professionally cleaned or having a landscaping crew come by to give your yard a thorough clean-up. You may also need to hire a handyman for some small repairs, or a general contractor if more extensive work is needed, depending on your specific situation. If more extensive work is needed, there are additional options such as lowering the list price or giving the buyer a credit at closing.
Professional Photography: Photos make the first impression, and an overwhelmingly large percentage of buyers start their search online. If you REALTOR® does not cover the cost of professional photography (we do!), be prepared to shell out some significant money to pay for it.
Curb Appeal and Landscaping: Not only does having excellent curb appeal and landscaping help with buyer's first impressions when they view your home, it also adds tremendous value to your home - as much as 12%! Depending on your property's needs, it may be costly, but is well worth the investment.
Closing Costs: In addition to pay REALTOR® commissions, sellers are responsible for certain costs at closing, called closing costs. These can include transfer tax, mortgage processing fees, escrow and notary fees, outstanding property taxes, prorated water and sewage bills, and the remainder of your mortgage.
While some of this may be confusing, especially closing costs, it is important to consult with a REALTOR® who can explain in-depth what costs you may be responsible for and what your potential profit may be. If you're considering putting your home on the market, I'd be happy to discuss your individual situation, what needs to be done to get your house ready to sell, and get you top dollar for your home!