The Hidden Costs of Selling a Home
Believe it or not, it costs money to sell a house. It’s probably more than you’re expecting, too. There are selling fees, which may be up to 10 percent of the total sale, then the commission, home repairs, and so much more. Selling is a hassle—a costly hassle.
Real Estate Agent Fees
Working with a real estate agent is the most common route when selling a home. After all, the agent does a lot of the work for you. However, you’re expected to pay for their work. It’s not hourly, either.
A real estate agent will have you sign a contract where you promise to pay their fees and a lofty commission at the time of sale. A good portion of the money you receive will go into their pockets. That’s less money for you to use for your next home or your family.
To ensure you receive the most money for your home, you may consider making home repairs. However, these repairs can be expensive. You’re looking at painting, which could be up to $2,000. Then, there’s interior and exterior cleaning. That’s another $1,400.
All of that money is a loss to you, as you won’t get all of it back when you sell. The buyer gets all of the benefits.
On average, staging a home for sale costs nearly $700. Essentially, staging just makes your home look nice. The furniture is placed in a way that allows the buyer to pass by quickly and easily to imagine their own furniture in its place.
Again, you’re not making any money back by staging.