It’s time to sell your home and you’re ready to move on with your life. Whether this means downsizing to a smaller home, finding a bigger home for a growing family, or moving out of state for an exciting job opportunity, you likely need to sell your house quickly.
Even if you don’t want to sell your home fast, you probably don’t want to spend a ton of money during the home selling process. But how much does it cost to sell a home? It can’t be that much, can it?
The answer might surprise you. However, the costs vary greatly depending on how you sell your home. Keep reading for everything you need to know about the common home selling fees.
Realtor Fees
If you sell your home traditionally, odds are you’ll be using a realtor. And why wouldn’t you? They can help you sell your home quickly because of their expertise and contacts in the community.
However, the seller typically pays both realtor fees. How much does it cost to sell your home using a realtor? Well, realtors usually charge about 3% of the house value, which means you would be paying 6% for both realtors.
If you sold your home for $275,000, that means handing over almost $17k to the realtors.
Repairs and Updates
If you’re planning on prepping your home for the market, this generally includes making repairs and updates to satisfy potential buyers. If you’re thinking “How much does it cost to sell a home when doing repairs?” you might not like the answer. Did you know the average homeowner spends over $20,000 prepping their house for the market?
This can get even more expensive if you have major issues. This includes things like a bad roof, water damage, mold, pests, foundation issues, etc.
Staging Costs
Next, if you want to expedite the sale of your home while selling it on the market, you can have it staged. However, staging a house professionally costs a pretty penny.
Generally speaking, it costs a couple of hundred dollars per room each month to have your home staged. If you’re short on funds but still want to sell your house as quickly as possible, consider selling to a cash home buyer.
If you’re wondering, “Can I sell my house as is to a cash home buyer?” the answer is yes. Most cash buyers will buy your house in any condition.
Inspection and Appraisal Fees
Next, if you’re selling a house traditionally, you’ll likely need to pay for a home inspection. A home inspector comes out to evaluate the overall condition of your home. They will make note of any damages or other issues.
You’ll also need a home appraiser to evaluate the home’s market value. If you had any issues come up in the inspection, it would be a good idea to have them repaired before the appraiser comes out.
Both the appraiser and the inspector can cost anywhere from $200 to $600.
Closing Costs
Finally, if you want to know “How much does it cost to sell a home with closing costs?” expect the fees to be somewhere around 2% of the home’s sale price. While the buyer traditionally pays for these costs, it also depends on the terms of the negotiated contract. It’s not unheard of for the seller to agree to pay closing costs to get their house sold faster.
Are You Wondering “How Much Does It Cost to Sell a Home?”
As you can see, the answer to “How much does it cost to sell a home” varies greatly. When you get into the details of selling a house, the numbers start to add up rather quickly.
Fortunately, it’s ultimately up to you. You can sell your house as-is, with or without a realtor, or decide to sell to a cash home buyer.
And if you’re looking for more information on the home selling process or want more advice about home improvement, check out some of our other articles. Our blog is full of insight for homeowners like you.
