Selling your home is likely going to net you a nice sum of money, but don’t think that there aren’t any costs involved with it comes to putting your property on the market.
From marketing costs to stamp duty fees, here’s the costs you need to keep in mind when selling your home.
The safest and best way to successfully sell your home is through an agent. However, their skills and expertise don’t come free, so it’s important to know how much your agent will charge you.
Average agent costs tend to be at around 2-3% of the final sale price, but this can vary. Depending on any other extras you may want, there could be other charges. If unsure, talk to your agent. They’ll be happy to answer questions regarding costs that you may have.
Unless your selling and not planning to buy a home again, stamp duty is something you will have to worry about.
Every transfer of property needs to be legally recognised, and unless you’re selling and not planning to buy a home again, it is something you will have to deal with before the final sale can be made.
Fortunately, most agents offer a scheme where they take care of the legal work surrounding stamp duty for you. Talk to your agent to see if this is an option – it will save you a lot of time and effort in the long run.
Upgrades and renovations
You want your house to look its best before putting it up for sale, and while a good clean won’t set you back much, any upgrades and renovations may cost you a little bit of money.
It may seem counterproductive, but an unsold house isn’t going to make you any money at all. Spending a little money to upgrade some old appliances and a new splash of paint can make all the difference.
In the excitement of selling your home, it’s easy to forget about what comes after. Where will you be taking all your belongings? Who’s moving everything? Will you need to keep anything in storage? These may not feel like the most pressing questions at the time, but you don’t want to leave them until the last minute.
You also don’t want to have to eat into profits from the sale of your home to cover these costs, so planning in advance can ensure you don’t run into any nasty surprises once your property has been sold.
Stay on top of your finances
There are lots of different costs involved when selling your home, so it’s important to keep track of them all. Follow these tips and you can be sure to stay on top of them all.
The information and links provided on this website are for general information only and should not be taken as constituting professional advice. This information does not take into account the financial situation or particular needs of individual readers. Before making any decisions about matters discussed on this website, you should consider whether it is suitable for you in light of your own circumstances, and seek appropriate advice.