Because real estate tends to appreciate, selling a house usually means you can expect a healthy profit — perhaps some of which will go toward your next home purchase — but don’t forget about the expenses of selling. You’ll likely incur costs before listing your property, while it’s on the market and at closing.
Are you thinking of selling your house? Here are some ways you might spend money during the process.
- Prepping and Staging: Before we list your home (or take photos for the listing), you’ll need to make sure it’s been thoroughly cleaned. Curb appeal may be a major focus, and you may even want to stage your home’s interior.
- Repairs and Inspections: If there are any repairs that need to be done, you’ll want to tackle them before buyers start touring your home. You can also get a pre-listing inspection to identify any issues that could derail your sale.
- Agent Compensation: The agents’ compensations are taken out of your final sales proceeds. Get in touch if you want to learn more about the new rules that went into effect in August.
- Taxes: Depending on your situation and sales price of the home, you might owe capital gains taxes. If you think this may apply to you, talk to a tax professional so you know what to expect.
- Moving: There are many costs that come with moving, including supplies, rentals, professional movers and even insurance. Keep in mind that you could also need to make deposit fees when setting up new utilities.
If you’re interested in selling your home soon, don’t hesitate to reach out so we can get started.
