Ready to sell your home? It can be overwhelming. There’s cleaning, fixing things up and decluttering to stage the home. And tie in finances – like the cost of selling a home – and it’s easy to get overwhelmed.
Costs of Selling Your Home
There are many factors involved in selling your home. On average, the cost to sell a home ranges between 5% – 10% of the sale price. Here’s a breakdown of what to expect when selling your home.
This is likely the largest cost of selling your home. This usually costs between 5%-6% of the price of the home, depending on the realtor.
Seller closing costs
Taxes, title insurance, and lawyer fees are just a few of the items that may go into closing costs as a seller. You can expect 1%-2% of the sale price for closing costs.
Home maintenance and improvements
This category depends on how much you want (or need) to invest in your home to get it ready for the market. Your realtor will help you determine what should be updated or fixed.
During negotiations, the buyer may request money for a certain item that doesn’t meet their standard. These types of upgrades can be worked into the closing cost as seller concessions.
You may need to consider staging costs for some, or all, of your home. Certain markets and price points basically require it to sell, and sometimes your own furniture and décor can suffice. Your local realtor should be able to provide a recommendation.
Ready to sell?
The total cost for selling your home can vary based on your specific home and the marketplace. So before you sell your home, make sure you configure these estimates into your budget.