What’s the Cost of Selling a House (and How to Cut It Down)

Painting, cleaning, mowing and packing, all part of the selling and moving process. Don’t forget dealing with the realtors and potential buyers coming in and out of your house.

Are you ready for the work and costs of selling your house? Consider what you can do yourself and what you need the hire the professionals to do.

The cost of selling a house goes beyond the realtor and the moving truck. Be prepared to sell your house by knowing all the potentials costs associated with the sale. Consider some ways you can save some money in the process.

Prepping Your House to Sell

Want your home to sell for the most money? Sometimes that means you have to spend some money first. Like getting ready for a special date or occasion, your house needs to get ready too.

The cost to sell a house might include doing some of these things to get your house ready.

Staging

Staging a home means you get it ready. Treat your home likes it is a stage and needs to present itself in the best possible manner.

Professional stagers come to your home. They might rearrange rooms or organize rooms. Their role is to make your home the most appealing it can be to potential buyers.

Ultimately their job is to stage your home so the buyer can imagine themselves living there. Is it worth the cost? Some realtors believe professional stagers increase the value of your home between 6 and 10% with their services. The average cost of professional staging can be around $2,300 and $3,200.

Can you save money and do this yourself? It means doing research on how to best showcase your home. Sellers have to look at their home with a new and critical lens to effectively do this themselves.

Cleaning and Painting

Giving a deep clean and freshening up the paint is an important step in selling a house.  A fresh coat of neutral paint can give your house a whole new look. Use a critical eye to evaluate those places where your house really needs to be cleaned. Carpet cleaning is usually a necessary expense.

You can do these things yourself to save money. Or you can hire a professional. Costs associated with cleaning and painting can run up to several thousand dollars.

Outdoor Curb Appeal

Here is where you never get a second chance to make a first impression matters. When a potential buyer pulls up in front of your house, it needs to look good.

The grass should be mowed and trimmed regularly while the house is for sale. The bushes and trees should be trimmed and manicured. Don’t underestimate the value of a few flowers pots and new light fixtures outside.

If you can keep up with these things yourself, it is a way to save money. If not, hire the professionals so your home makes the best first impression.

Making the Sale

Once the house is sold, you will have expenses connected to the actual sale. This is the time when you will have the greatest costs. It is also likely the area where you will have the smallest option to reduce costs.

Realtor’s Commissions

If you hire a professional to sell your home, you have to pay for them. A realtor selling a home for you will make between 5-6% of the sale price of the home. This percentage is negotiated with the seller’s agent when listing the home. The selling agent and the buyer’s agent will split this commission between them.

The median home price in 2018 was $248,000. This means the realtor’s commission will be $14,880 at 6% commission rate. This will likely be the largest expense in selling a home.

Of course, you can try to sell the home yourself to save money. You can also hire realtors who will take a smaller commission. However, they typically do less to get the home sold.

Closing Costs

Closing costs are another fee associated with the sale of a home. Traditionally, these fees are the responsibility of the buyer. This can greatly depend on the type of market.

If it’s a seller’s market, the buyer will likely incur the cost. In a buyer’s market, often the seller could be asked to cover or share in the closing costs. Closing costs typically run 1-3% of the sale price of the house.  This is a fee that can be negotiated.

Other Fees

Often there are additional fees connected to the home sale. These can add up and should be planned for. They might include:

  • Mortgage payoff fees
  • Taxes
  • Attorney or title fees
  • Buyer’s home warranty

Moving

Once the house is sold, you need to move. The cost of this greatly depends on the distance you are moving and how you execute the move.

One way to save money is to do it yourself. Rent the moving truck, recruit your friends and start carrying stuff. An easier, but more costly route, is to hire the professionals. The average cost of moving with professionals is between $800 and $1,000. Of course, the amount of stuff to move and the distance are the biggest factors in the cost.

Selling Another Way

Does all this sound cumbersome and expensive? There is another option.

Consider letting us buy your house. It is fast, simple and hassle-free. We are cash buyers who like to close a deal within seven days of looking at your property.

Selling a home takes time, money, and patience. If you want to sell your house fast or you want to avoid the hassle and added costs of getting your house ready, we want to buy.

The process is simple and transparent. You contact us, Five Boro Home Buyers. We get the information and consider the history, location, and condition of your home. Within 24 hours you will have an offer from us. The offer includes any needed repairs and closing costs.

When you accept the offer, we get you a check within 7 days. Your house could be sold that fast and that easy.

Cost of Selling a House

Does the cost of selling a house seem overwhelming and expensive? Do you need or want to make the process go quickly? You can avoid the work of repairs and hiring people. You can avoid the strangers traipsing through your house.

Contact us today to start the process. You can save money and get your house sold quickly and without all the hassles.