Hidden Costs of Selling Your Home

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Selling your home goes from an exciting, adventurous idea to a long list of “to-do’s” in seconds. When you become serious about selling, you begin to face the reality of what it will actually take to sell your home and get your money’s worth.

Home Staging

Although it’s not a must, staging your home helps show it off to its full potential. Future buyers need to be able to picture themselves in your home, which is extremely difficult when your home is empty. Make sure you choose to stage your home with furnishings that appeal to the type of buyer you are looking to sell to…an older couple with teenage kids probably won’t have the same taste as newlyweds.

Interior Painting 

The national average for painting the inside your home with a fresh coat is $2,650. While that may have some initial sticker shock, keep in mind that just changing the colors of your walls can make the room feel more spacious and even increase the value of your home by several thousand dollars. This is especially important if you have little kids whose rooms are painted in bright colors or pastels. It’s very difficult for a buyer to envision a pastel pink room as beige, which means that showing them what the room would look like could be the difference in them walking away and them placing an offer.

House Cleaning

When in the market for a new house, buyers are looking for that shiny, and new look. This doesn’t mean you have to go ahead and redo your entire kitchen or replace all of your flooring, but it does mean you should put in some effort tidying up the house. Mold and mildew can be a deal-breaker if spotted, so make sure you deep clean the bathroom before showing your house. Also, get rid of any clutter that might be piling up, and try to have as much counter space visible as possible. Wash your windows and even consider leaving them open to let some fresh air in.

Lawn Care 

An unruly lawn gives a buyer a negative first impression of the property, and makes the buyer think they will have copious amounts of extra work to do in order to get the house to their liking. Dead grass and wilted flowers don’t scream “welcome home”, and while it’s only a small detail, they might be the factor that causes a buyer to pick a different property. Again, while it’s not a must, it may be beneficial to consider making sure your landscaping is not only fresh, but also inviting. 

Closing Costs 

Closing costs typically run about 8-10% of the selling price of your home and can be paid by either the homeowner or the buyer. These fees cover the costs of transferring the title of the property from one person to another. When selling your home, you need to consider what will help you to pocket the most money. While it is not ideal to pay closing costs for the buyer, it may be the only way to sell your house quickly. Consequently, if you have two identical bids and one asks for closing help and one does not, you should obviously pick the bidder who doesn’t ask for help so that you pocket the most cash.

Before you put your house on the market, take the time to research the costs, so you can be prepared. If you want to avoid spending too much money, you can sell your house now as-is to an investor.

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