Buying a house can be an expensive process as most homeowners know. There are more costs involved aside from the down payment and monthly mortgage. However, many homeowners aren’t aware of the fact that the same is true about selling a home. If you plan on selling your Anchorage area home this year, then you’ll want to be aware of some of the associated costs with the home selling process. The following are a few of the home selling expenses that you can expect:
There are a number of things that you are going to have to pay for before you even put your home up on the market. These include:
- Repairs – Not only should you fix major problems, such as a leaking roof, but you’re going to want to repair small problems as well. No buyer is going to want to spend even more money making major repairs after having just bought a house – unless they are buying a fixer-upper. And if they notice small problems around the house, such as a loose rail or a poorly working doorknob, they’re going to wonder what other problems there might be that they aren’t seeing.
- Improving curb appeal – The house isn’t the only thing you have to make presentable. Curb appeal is a huge part of what attracts a buyer to even come inside of your house in the first place. If the exterior of your home looks trashy, buyers may bypass your house completely. Invest in landscaping improvements, such as mowing the lawn, trimming bushes and trees, planting flowers and more, to help entice buyers to check out your home.
- Pre-inspection report – While you can expect buyers to pay for their own inspections, it’s wise to do so yourself so that you know of any problems ahead of time.
Once you put your home up for sale, there will still be a number of expenses involved that will include:
- Staging – Paying to have your home professionally staged will give buyers a good idea of how they will be able to utilize every room as well as allow them to more easily imagine where and how they can place their own furniture.
- Cleaning – Buyers will be turned off by a dirty home, which means you’ll want to have it cleaned before any one comes to see your home. This includes having the floors professionally cleaned, having your windows professionally washed and having your kitchen and bathrooms cleaned spotless as well.
- Utilities – Even if you’ve moved elsewhere, you’re going to need to pay to keep the utilities on. You can’t show a buyer through a house with no light!
The following are a few of the after-sale costs:
- Commissions – If you are using a real estate agent – as you should be – you’ll have to pay around 5 to 6 percent of your home’s price in commission.
- Closing costs – Standard closing costs often include fees for the mortgage and home appraisal, fees for the escrow company, fees for recording and transfer of the property and more
- Capital gains tax – If you earn more than $250,000 on the sale of your home, you may have to pay a capital gains tax.
- Moving costs – Don’t forget that it will cost you some money to move all of your things to your new home!
If you plan on selling a home in the Anchorage area this year, then be sure to keep these additional costs of selling a home in mind. For more information about selling your home, please don’t hesitate to contact us!