Have you made the decision to sell your home? Congratulations!
It can feel like a huge weight is lifted off your shoulders once you do. Yet, setting the right price is essential with every sale. Since you want to avoid it sitting on the market too long, a fair price must be established. Some people decide to list their homes for a certain profit.
You must be prepared to negotiate with buyers and make sure you aren’t losing money on the deal.
If you aren’t sure about the average cost to sell a house, you’ve come to the right place. Continue reading to learn all about it.
A Breakdown of the Cost to Sell a House
Home selling prices depend on many factors, including the current market conditions, the location of the property, the type of property, the condition of the property, and the selling price. But, there are a few general guidelines that can help you estimate the average cost to sell a house.
The real estate agent you are working with will get a 6% commission on the final price. Other costs include selling costs, such as repairs, staging, marketing, and closing costs. These costs will add up to around 10% of the final selling price.
So, if you’re selling a house for $200,000, you can expect to pay around $26,000 in total selling costs. Of course, the final selling price will also play a role in how much profit you make from the sale.
If you need to sell your house fast, you may have to sell it for less than you would like. You can learn about selling homes quickly on Homebuyers Acadiana.
However, if you’re okay with waiting for the right buyer, you may be able to sell it for more
Listing a House
As a general guide, the cost of listing a house is between 5-7% of the final selling price. For example, if your home sells for $200,000, then the cost of listing it would be between $10,000 and $14,000.
The cost of listing a house is usually the biggest expense compared to maintenance costs, staging, or agent commissions. It is definitely worth speaking to a few different real estate agents to get an idea of how much it would cost to list your home.
Marketing a House
The cost of marketing a house can vary depending on the location, size, and condition of the property. For example, the cost of marketing a house in a small town may be less than the cost of marketing a house in a large city.
The cost of marketing a house will vary depending on many factors. Generally, the average cost to sell a house will be between 5-10% of the home’s value.
For example, if your home is worth $200,000, you can expect to spend $10,000-$20,000 on marketing and selling expenses. This includes real estate commissions, photographic services, advertising, signage, and more.
Preparing a House for Sale
An important step in selling a house is to find out how much it will cost you to sell. The best way to do this is to talk to a real estate agent or broker. They will be able to give you an estimate of the selling costs, which will include home preparation costs.
These costs can vary depending on the condition of your home. The average cost is around $5,000. This cost would include considering the age and condition of the house, any necessary repairs such as on the roof or windows, any required painting or other cosmetic updates, and any necessary deep cleaning.
If your home is in good condition, you may be able to save some money on these costs.
Closing a House Sale
The average cost of closing a house sale is around 10% of the total sale price, so if you’re selling your house for $200,000, you can expect to pay around $20,000 in closing costs.
These costs can vary depending on many factors, such as the real estate market in your area, the type of house you’re selling, and the type of buyer you’re selling to.
But, understanding the average cost to sell a house can help you budget for the costs of selling and help you understand what to expect.
Post-Sale Maintenance
Another important factor in selling a house is the post-sale maintenance cost. This is the cost of any repairs or renovations after a finalized sale. Often, post-sale maintenance costs can be quite high, so it’s important to factor this into your budget when you’re selling your home.
The best way to keep your post-sale maintenance costs down is to keep your home in good condition before you put it on the market. This means regular upkeep and timely repairs. If you have to do major repair work before you sell, it’s important to get quotes from reliable contractors so you can budget.
Assuming that you are asking for the average cost to maintain a house after selling it, this would include both monthly and annual costs. The average monthly cost of maintaining a home is $1,200, while the average annual cost is $9,100. These costs can fluctuate depending on the age and size of the house, as well as the location.
Property and Transfer Taxes
When you sell your house, you will be responsible for paying property taxes up to the date of the sale, as well as any transfer taxes that may be applicable in your municipality.
The good news is that you can deduct the property taxes you paid during the year of the sale on your federal tax return. But, you will still be responsible for any transfer taxes due.
To get an idea of how much you may owe in property and transfer taxes, consult your local tax assessor and real estate attorney. They will be able to give you a more accurate estimate based on your specific situation.
It’s a Big Decision to Sell a House
Selling a house is a big decision and understanding the average cost to sell a house is important. Agent fees, marketing costs, and repair costs all play a role in how much it will cost to sell your house.
Knowing these costs can help you make a more informed decision on whether selling your house is the right choice for you.
We hope you found the information helpful. For more real estate articles, tips and tricks, check out the rest of our blog.
