Watch Out for These Added Expenses When Selling Your House

When selling your home, it’s easy to focus on the big payout at the end. Many people get tunnel vision on that, and completely forget to pay attention to the other bills and expenses stacking up around them. If you’re selling your home, it is difficult to avoid some of the costs that are associated with it.

One way to minimize these expenses is to consider a cash home buying service. A cash home buyer will purchase your house for you without a need to spend extra finances on repair and maintenance. For example, you can sell to Signature Properties, in Pennsylvania, or your nearby location, and avoid any traditional costs associated with selling a home. This will not only simplify the selling process but will also help in keeping most of the profit in your pocket.

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However, if you are planning to go the traditional way and look for a buyer yourself, there are some costs you should be aware of before selling your house. For instance, consider the condition of your roof. A well-maintained roof can increase the value of your home, while a damaged one can be a major turn-off for potential buyers. Ensuring that your roof is in good condition by a professional such as at www.mnroofingco.com/, before listing your property can save you from unexpected costs and delays during the selling process. Additionally, landscaping and minor interior repairs can also be considered as these impact the overall appeal and value of your home.

Let’s take a closer look at some of these additional costs you should be aware of in detail, before you move further with the selling process. .

Utilities and Staging

Staging your house is one of the best ways you can add value to your property without having to make any changes to it. Unfortunately, unless all of your furniture is high end and brand new, most people have to rent furniture- or services- to stage their houses for sale. Some services are cheaper, but the average monthly cost of a staged home can be from four hundred to six hundred dollars- and that’s after the one-time payment of five hundred dollars. Homeowners may also want to think about painting areas as well to make them look fresh and inviting. This is only a minor change, but it can make all the difference. So searching for a handyman in North Provo, or one similar to them, will help get this sorted in time.

Utilities, on top of this cost, add another bill you don’t want to manage. Most buyers want to see the home with the lights on, will check taps to see how hot or cold it gets, and are interested to see the electrical wiring works. If you already have a new place, it can be draining to pay electricity on two.

Repair Credits

When moving sometimes, there are repairs you don’t want to have to put in the hours to do. Regardless if it’s replacing the fence, or repairing the roof, it’s a pain on top of everything else you have to juggle. You can find plenty of good roofing services such as those found at www.nationsrenovations.com/tx/roofing-services-in-prosper/ who will look after all of your roof repair needs. You might, however, find that you don’t want to go through the hassle of having to organize the contractors yourself in which case a repair credit is something the seller offers buyers so that they can do the work themselves, and not be out any money.

Although it can be handy, if you want to get the most you can for your home- it’s better if you do the repairs yourself. The cost of selling a house shouldn’t be more than you make it necessary.

Commissions and Taxes

Real estate agents, and realtors, take a pretty big commission off any sales they make. On average, that’s around 6-8%, which can mean you’re only getting $184,000 for your $200,000 home- which can be a sizable chunk.

Taxes on selling the property depending on the area and what kind of property you’re selling- but you should research these as well. It’s better to spend five minutes researching and find out you don’t have to pay taxes than to be surprised with a bill.

Moving Costs

This bill shouldn’t surprise you, but a lot of home sellers get so wrapped up in selling that they forget they’re moving as well. Everything from trucks to services to storage- you need to calculate anything that could be taking money out of your pocket. If you plan ahead you can look for bargains, but waiting until the last second may leave you dropping more than you’d like to.

If you want to save money here, plan ahead and slowly move your things over to your new home, rather than trying to use a moving truck and getting it all over in one day.

You’re selling a home, that’s grounds for celebration! Just keep an eye on these money-sucking expenses, and you’ll be able to enjoy the profits you’ve made.

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Tim Spafford

Tim is a student who works hard to get a degree in finance and build a successful career in business consulting. Being a student and living in London Tim has a real-life experience in budgeting, saving, money making, traveling and having fun.