Discover What You’ll Spend to Unload Your Home
You have to spend money to make money. That’s not just a rule in business. It’s also a fact when it comes to selling your home.
In fact, the truth is you’re going to have to shell out some dough as you put your house on the market — and you as work to close the sale. And those costs are going to hit you before you ever collect the proceeds from the sale.
But if you know what those costs are, you can figure out the best ways to manage them. You may even be able to offset, limit, or avoid some of those costs with the right information and help.
8 Costs of Selling a House
Thinking about listing your home? Here’s what you need to budget for as you get your house ready to list, show, and sell.
1. Home repairs & improvements
Investing in certain home improvements can add value to your home while possibly attracting more buyers and interest. While home upgrades can be as elaborate as you like, some of the best improvements that yield the highest returns are shown in the table below.
|Home Improvement||Average Cost Recouped|
(after selling the house in Texas)
|Garage Door Replacement||93%|
|Stone Veneer Siding||91%|
|Minor Kitchen Remodel||70%|
|Entry Door Replacement||66%|
If you don’t want to pay for home repairs or upgrades, of course, you don’t have to. You can always put your home on the market “as is.” If you do, you may want to knock some money off of the listing price to cover whatever repairs a buyer would need to make before moving in.
Dropping a couple hundred dollars to get your home professionally cleaned from top to bottom can be well worth it. Depending on how long your home sits on the market, you may want to get a professional cleaning done once a month (or more frequently if your house is shown a lot and/or you’re living it while selling it).
3. Home staging
Professional staging can present your home in the best possible light, showcasing its best features to make it as appealing as possible — both in photos and in person when prospective buyers show up to take a tour. Depending on your house and circumstances, staging could involve removing or adding furniture, lighting, and/or plant life.
4. Photos & videos of the home
Along with professional cleaning and staging, professional photos and video tours can be an upfront cost that pays off big time when all’s said and done. In fact, given that most folks start shopping for homes online, the pictures and videos you present of your home can end up making a major difference in:
- How much interest your house generates when it debuts on the market
- How long your home ends up sitting on the market
Pre-inspections, as well as home inspections during the closing process, can cost anywhere from $250 to $500. While you’re not required to pay for a pre-inspection, it could help you make the sale faster, especially when buyers have concerns about structural issues, plumbing, and more.
Many lenders require appraisals, and some buyers may make the sale contingent on the price returned by the appraiser. Like inspections, you can get an appraisal before you start dealing with buyers. If you do, you may have a much more solid base for your asking price.
7. Closing Costs
Title insurance, escrow fees, and broker fees are just a few items that can comprise closing costs. Depending on the deal you made with the buyer, you may be on the hook for covering some or all of these costs.
8. Realtor’s Commission
If you worked with a Realtor to sell your home, another cost is the commission. That’s typically between 5% and 6% of the sale price. Like closing costs, the Realtor’s commission may be split or covered by the buyer as part of the terms of the sale.
If you want to work with a realtor who will split the seller’s commission with you at closing, contact New Home Gurus.
Selling a Home in Texas? Get Cash Back at Closing
If you’re selling a home in Texas, you can get experienced help and cash back at closing when you work with the 5-star Realtors® at New Home Gurus. We can guide you through the process, helping you with offers, negotiations, and closing. Plus, we’ll split our commission with you at closing!
Home sellers who work with New Home Gurus can get back an average of $4,500 to $12,000 at closing.
How Much Cash Can You Get after Closing?
Call (281) 668-8124 or Contact Us to Find Out Now
We are standing by, ready to answer your questions and explain the details of our commission-sharing program.