If you’re toying with the idea of selling your house, you’re probably wondering how much it’ll cost. To be honest, the final number will depend on several factors like the offer you accept, if you help with your buyer’s closing costs, how many repairs you tackle, and more.
Most homeowners today have a substantial amount of equity built up in their homes, and that means they stand to make significant gains when they sell. This can help quickly recoup these selling costs. You may even have enough equity leftover to put some toward your next home purchase.
Let’s dive into a few of the costs so you have a bit more context on what they include and where you may be able to save some money, when it makes sense.
Closing Costs and Commission
These are the fees you’ll pay at the closing table to cover various aspects of the sale. You’ll have your own closing costs and you may even offer to pay some of the buyer’s as a concession. As a seller, you could expect to pay between 5% and 9% of the sale price of the property. Taxes (are going to vary by state) and agent commissions depend on what you agree upon upfront. If you put money toward things like your property taxes, mortgage escrow, etc. as part of your current mortgage payments – there's a chance you’ll get a credit back at closing that can help offset some of these selling expenses.
Pre-Listing Inspection and Repairs
One step most sellers take now is having a pre-listing inspection. This is important because it gives you an idea of what may pop up later if the buyers to opt for their own inspections – and these could be the items a buyer may ask you to toss in a credit (or concession) to cover later on, and can ultimately slow down the whole process. This allows you to get a jump on any repairs and tackle them before you list, so your house is set up to impress from the start, and reduces the chances of your house falling out of contract for unknown issues.
Home Staging
As inventory grows, you may want to take a few extra steps to make sure your house stands out. Staging is a great way to make sure your house shows its best. Staging can include bringing in rental furniture if the house is vacant or art to warm up the walls. But, in general, how much does it cost? In Marin, it could range from $5,000 - $10,000 and up depending on the size of the home and the quality of staging pieces.
If you want to skip this step, you could opt to lean on your agent’s advice for what looks good and what may feel cluttered. Professional stagers may also be able to offer advice (for a fee) on how to use what you have to help the home show in the best light. An important factor, regardless of whether or not you use a stager, is to de-personalize strategic areas if you are still living in the home.
Why Leaning on an Agent Is Key
If you’re looking to cut down on your costs, you have options. But be careful of where you trim. An agent is your go-to expert throughout the transaction. Agents offer customized advice every step of the way, including how to stage the house and what repairs to tackle. But that’s not the only way your agent adds value. Agents create tailored marketing and pricing strategies that’ll highlight the house’s best assets and any work you did to get the home show ready. And that can actually help your house sell for more in the long run.
Want a better picture of what you should expect when you sell your house? Let’s have a conversation and walk through it together.
