Wednesday, February 9, 2022 / by Flr Team
Thinking of selling your home? While you may think your home sale will be all profit, it’s easy to forget that selling a home costs money too. Here are a few hidden expenses that shouldn’t be ignored.
This can add up. If you’ve put off maintenance on your home, you may have to hire a contractor or handyman to come in and make repairs to get your home ready to put on the market. It’s best not to cut corners at this time. Buyers can sometimes catch DIY repairs during the home inspection, and you may end up paying more than if you had used a good handyman the first time. If you’re not up for making the repairs yourself, a good solution would be to lower the listing price or give the buyer a credit at closing.
Curb appeal is what gets buyers in the door. Improving your landscaping can increase your home’s value by up to 12%! While prices may vary, a full-on landscaping job can cost over $3,000, but there are many improvements that you can make yourself.
Closing costs will likely be your second biggest expense behind commission fees. Closing costs tend to be fixed including transfer tax, mortgage processing fees, escrow and notary fees. You will also pay any outstanding property taxes, a prorated share of the water and sewage bill depending when you sell, and the remainder of your mortgage. Keep in mind that you might be able to avoid a $100-$200 reissue fee for the title search if you can provide a copy of your policy.
If you’re considering selling your home, reach out to a local Real Estate professional to help you navigate through the process.
Florida Lifestyle Realty