Expenses Involved in Selling Your Home

There are a few different categories of costs involved in selling a house, some more expensive than others. Certain expenses may not apply to every sale, but you should still be aware of them in case they do come up. If you account for every possible situation in your budget, you may even end up with more profit than expected, since they aren’t likely to all occur in a single sale. These costs could come up at any time during the process, so be ready.

Before even deciding to sell, take a look at whether you need to repair or make any upgrades. Houses do sometimes sell as-is, but remodels can be more valuable than their cost, and major repairs may be necessary to sell for anything beyond the value of the bare plot of land. You may want to get a home inspection, though there’s a possibility you could get a buyer to pay for this later. Once your home is listed, you’ll want to help buyers feel welcomed. There could be costs involved with getting the home ready for open houses, though your agent may be responsible for some of these costs. When it comes time to complete the sale, there could be any number of costs, such as taxes, commissions, paying off mortgage, or other fees. And don’t forget about costs that occur after the sale. Many sellers are selling their primary residence and are also moving. That incurs moving expenses, which can get expensive for large, bulky furniture items or traveling long distances.

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