Selling A House – Expect Some Expenses!
Buying a house is an expense laden experience. It might surprise you to know, the selling side of the equation has some expenses of its’ own.
When you’re ready to sell a house be sure to plan for:
- The costs of keeping the house in “running order” while it’s on the market for sale. You’ll want to keep the heat/air conditioning up and running and the lights on.
- The added expense of home owner’s insurance on a “vacant” house.
- The costs of actually moving your belongings from your current house to the new place you’ll be living. It’s an obvious expense, but one that may slip a person’s mind when in the midst of such a large undertaking.
- The commissions of the real estate agents involved. The seller typically pays the entire amount and the agents split the commission.
- House repairs! Those things on your “list” that you’ve been meaning to get to – all have an associated cost with them.
- Getting the house looking its best so prospective buyers see its very best side!
- Driveway maintenance
- Possibly a new front door and/or mail box
- Home staging or purchasing new staging items if you intend to stage it yourself
- Getting the windows washed (if you don’t plan to do it yourself)
- Getting your house professionally photographed so all that hard work is shown in its’ very best light
- Costs such as title insurance, recording of the title transfer, and in some cases the “closing costs” which can be between 2% to 4% of the sale price of the house
- And – possibly capital gains tax.
Keeping these items in mind will help you avoid getting caught unaware when it’s time to sell your house.