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So, you have decided to sell your home and move towards a different opportunity and you are wondering how much it costs to sell your house?
Unfortunately, many sellers present in the market do not realize about the money they are investing in the market to sell their house until it backlashes at them sooner or later. But you are not going to be that seller!
To sell your house and still have a good amount of money left with you, plan to make a budget for selling expenses so you won’t have to worry about making ends meet.
What’s the cost of selling a house?
According to the property agent sources, the average cost of selling a house is approx. 15% of its sale price. The cost includes various factors like agent commissions, home repairs or construction, closing costs, and moving fees.
For example, if you are selling a house for $ 300,000, you might have to pay $ 45,000 to cover the cost of selling the home. This might sound like a little too much, but the price to sell is different for each home owner in the market as the seller might skip a few selling expenses according to their personal preference.
Various costs incur while selling a house, some are discussed below:
Real Estate Agent Commission
The most common and conventional cost of selling a house includes Real Estate Agent’s commission. When you sell a home on behalf of a property agent, you are entitled to give them a fair share of your deal.
The standard commission rate of a real estate agent is 6% of your home’s selling price, which is split between the seller’s agent and buyer’s agents. According to sources, it is beneficial to hire a property agent as they have the expertise to buy and sell a house quickly.
House Repairs
The house gets damaged or needs extensive repairs over the years. The major maintenance can be discovered through a home inspection that will search every nook and cranny for any potential issue. The typical repair cost of a home is approx. $ 4000 – 18,000 which would usually cover all the repairs that come up during the inspection.
Home Staging
Home staging is beautifying your home to make it highly irresistible for the customers. A usual home staging costs around $ 400 – $ 1800. The primary purpose of staging is to help customers visualize their future living space in their new house. Various fees are included in home staging, such as hiring a staging company, maintaining or renting furniture, improving lighting, and applying paint all over the house.