Hidden Costs You Can Avoid When Selling Your Home

time: 01:17:23 12/06/2018  view: 1526

Selling your home is supposed to make you money, right?

Well, hopefully.

But the truth is, selling a home will cost you, a lot!

Even if you end up ahead on the deal, getting more than you paid for the home, you’ll still have to shell out thousands before you’re done.

On average, homeowners pay $12,000-$16,000 in hidden fees during the selling process. In high-end areas, where real estate prices are higher than the national average, this figure is significantly greater.

Many of the fees, you can’t avoid. Things like taxes and closing costs. There’s just no way around it. You’re going to have to shell out for some things.

But the good news…there are some expenses you can cut.

Below is a list of things sellers typically pay for that you can avoid. A word of caution, however. There are very good reasons that most sellers choose to pay for these services. These things tend to make the process easier and can help to bring in higher sales prices.

By listing these avoidable costs, I’m not suggesting these aren’t important expenses. What I am saying is that these are areas where you could potentially save big, if you choose to.

1. Hiring a realtor or real estate agent.

In most states you can legally sell your home, on your own, without hiring a professional to help you. This is the biggest way to save, as realtors fees average 6% of the home price. That’s a lot of money.

If you have any legal knowledge or sales experience, you can probably manage. But, for many the process is just too complicated and the expense of hiring a realtor is well worth it.

If you do choose to go it alone, be sure to arm yourself with as much information as possible. Our blog has many articles that can help you navigate the FSBO space.

2. Staging.

While staging your home is critical to your success, hiring a professional stager is not. There are numerous ways you can do what you need to, without the help of a professional. I encourage you to read up on how to stage your home properly.

If you have any interior design savvy friends, enlist their help. If, after reviewing the process, you are overwhelmed, you can always change your mind and hire someone.

3. Photography.

Professional photographs are super important. Especially in today’s technologically driven market. But maybe you know someone who loves to take pics and is a natural. Or even a professional who likes to pick up extra cash on the side. Real estate photographers will charge you a small fortune. And this is an easily avoidable, or at least reducible expense. If you do some homework.

Selling your home is difficult enough. And you want to get the most money you can out of the process. By knowing where you can cut costs, and where you can’t, you can make the best decision for you and your individual circumstances.