Costs to Prepare for When Putting Your Home up for Sale
It’s no secret that buying a home will leave you with a nice big dent in your wallet, but on the other end of the spectrum, what’s the cost to sell your property? If you’re planning on putting your house up for sale, you’ll need to budget for necessary selling costs of your home. Here are things to keep in mind when it comes to your budget:
Sprucing up the place.
When selling your home, it’s important it appears to be in its prime and well maintained. For this reason, you’ll want to make little “fix-its” like putting new handles on the kitchen faucet, re-caulking bathroom tiles or planting some new flower beds in the front yard. Perhaps the most costly sprucing up your home will need is a fresh paint job (interior and exterior). Be sure the interior boasts neutral colors; steering away from bold colors or wallpaper. To save money, recruit some friends to help you paint the house yourself instead of hiring a professional that could set you back thousands. While these little improvements may seem small, the cost can add up fast, so be sure to budget for them accordingly.
Staging your home.
When potential buyers look at your home, you want them to imagine what life would be like if they lived there. One of the best ways to do this is by staging your home. If you’re unfamiliar with the art of home staging, a professional stager will do everything possible to make your home look beautiful and inviting. Home staging involves anything ranging from a simple de-cluttering service to renting furniture pieces to display in every room of the home once it’s vacated. Depending on your unique situation, hiring a stager can cost anywhere from $500-5,000 or more.
Just because you’ve already vacated your house for sale doesn’t mean you stop paying for utilities like electricity and water– it’s a bit difficult to show buyers your home in the dark. Buyers should be able to see how well lit the house is and have the opportunity to test the water pressure and temperature. Be sure to set some money aside to keep paying utility bills on your home for sale.
While buyers are expected to run necessary inspections upon purchasing the home, it’s never a bad idea to conduct your own before you put your house up for sale. This way, you can learn of possible issues like termite infestation, leaky pipes, or bad wiring before the buyers have a chance to get upset about them and back out of a potential sale. A pre-inspection typically costs around $200 or more.
Extra homeowners’ insurance.
Be sure your homeowners’ insurance covers your home even when it’s vacated. If not, be prepared to pay a little extra to take necessary precautions.
For more tips on how to sell your home, check out Tips To Sell Your Home Fast.
Did you come across any unexpected costs you wish you’d have known about when you sold your home? Let us know in the comment section below.