The SURPRISING Costs Of Selling A Home You Didn't Know About!
Thinking about selling your home? You’re probably excited about the profit you’ll make, but before you celebrate, let's talk about the hidden costs that can take a big chunk out of your bottom line. Stick around, because 40% of home sellers overlook one major cost that could surprise you!
A lot of homeowners are “equity rich,” meaning they own 50% or more of their home, which sounds great. But if you think your $500,000 home will sell, and you’ll walk away with $250,000 after paying off your mortgage, it’s not that simple.
Here are some hidden costs to watch out for:
▪️ Pre-sale repairs like painting, fixing windows, and landscaping can cost up to $14,000. And home staging? That can be $800 to $1,200 upfront, but staged homes sell for 5–20% more. Some agents, like me, cover this, but if not, it's an expense to consider.
▪️ Closing costs—title fees, taxes, and attorney fees—are big and can’t be ignored. And don't forget inspection repairs that buyers will likely request. You should budget about $5,000 for those unexpected fixes.
▪️ Real estate commissions will also eat into your profits. With recent NAR changes, you may or may not have to cover the buyer’s agent's fees.
Finally, the one cost 40% of sellers forget? Moving costs! Hiring movers can easily run into the thousands, especially for long-distance moves.
Were any of these costs surprising? Let me know in the comments!
It’s crucial to know what your real profit will be so you can plan. And if you need advice, reach out—I’m here to help you navigate every step of the process!
🕛 TIMESTAMP 🕛
00:00 Hidden Costs Of Selling Your Home
00:26 Corelogic: US Homeowners Are Equity Rich!
00:55 What To Fix Before Selling Your Home
01:20 Home Staging Sell Your Home Fast!
01:58 Closing Costs When Selling A Home
02:23 Inspection Repairs
02:47 Real Estate Agent Commission & Fees
03:15 What Is Capital Gains When Selling A Home
03:37 Negotiating Seller Concessions
03:52 Moving Costs When Selling A Home
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