But if you’re about to put your home on the market, you might want to take a look at your bank account first. According to
Surprised? You’re not the only one. Zillow’s report states that 61 percent of today’s sellers have never sold a home before, so many of these hefty costs come as a shock.
Still confused? Let us break it down for you: The number above comes from a compilation of data that looked at the average amount sellers spent on a variety of costs for their home. These consist of a multitude of things, including pre-inspections, cleaning and painting services, agent fees, sales taxes, and more. And depending on the cost of living in your area, the prices for some of the same projects could vary greatly. That’s why Thumbtack’s economist Lucas Puente advises, “Homeowners starting to think about selling should take time to research and budget for the projects that can ultimately help sell their home faster, and at a higher value.”
And when it comes to value, there are certain design features that may be worth the splurge—for example, quartz countertops, white cabinets, and bay windows are more
So, if you’re in the process of putting your home on the market, you’ll want to be strategic about how you approach each project. While putting a fresh coat of paint on the walls may seem like an easy task to tackle yourself, Peunte says to keep in mind that buyers have a keen eye.
“Sellers can definitely take on some of the projects themselves—for example, renting their own carpet cleaning device or touching up their walls,” he says. “However, the margin of error involved with seemingly minor projects is very slim, since prospective buyers will notice even the smallest details when evaluating potential homes to buy, and will ultimately use that information when making offers,” he says. That’s where a service like
The most important thing to keep in mind when calculating costs for selling—beyond the more obvious expenses like real estate agent fees—is that you want your home to show well. Terrazas points out that
But you won’t only need to budget your money when it comes to selling—you’ll have to do the same with your time, too.
That’s not to say that selling your home isn’t worth the time and money, though: Once it’s sold, you have access to your assets, and can have more money to
See more real estate news:
Get all the news you never knew you needed when you