Cost of Selling Your Home: How to Keep the Most Profits
With the demand for houses stronger than ever in Nashville, there’s a mass shortage of homes for sale. But are you prepared for the cost of selling your home? If the answer is no, you’ve come to the right place.
From realtor fees to repairs, we’ve rounded up everything you need to know about the cost to sell your home. Let’s jump in and get your home sold quickly and without eating into your profits.
1. The Cost of Selling Your House When You Need Renovations and Repairs
If you’re looking to sell your home on the traditional housing market, there are likely a few repairs and updates you’d like to make. The more you can neutralize and freshen your home the more buyers you’ll attract. The budget for renovations and repairs before listing your home will vary widely.
For some, the home may need a fresh coat of paint and a good cleaning. For others, the home is a total fixer-upper.
It’s tricky to know for sure how much your renovation and repair budget should be. You won’t always get all the money you spend back when it comes to the sales price.
If your home only needs a few simple updates, set a small budget to get them done. Tackle as much as you can yourself and focus on the things that will have the biggest impact. The more you can keep costs down, the larger your profit is when it comes time to sell.
If your home needs a lot of work, selling your home as-is to a cash buyer may be a better option. There’s no need to spend a lot of money to get your home ready to sell. You can leave your home as-is without all the hassle and cost of renovating it.
2. Curb Appeal Updates and the Cost to Sell Your Home
The front of your home is your first chance to grab a buyer’s attention. This is where you’ll make the first impression on potential home buyers. It only takes them a few seconds to get a feel for the house.
This is why curb appeal is so important when you’re trying to sell your home quickly. The better your home looks on the outside, the better impression you’ll make on buyers. To increase your curb appeal, focus on cleaning up and freshening the look of your home.
Clean up landscape beds, consider repainting, getting a new front door, and adding some new plants. These improvements don’t have to cost a lot to make a big difference in the look of your home.
If the home needs a lot of exterior work, the costs to update the outside may not be worth the investment. This is where selling your home as-is will keep more money in your pocket and create less work for you.
3. Home Staging Adds to the Cost of Selling Your Home
Home staging is a great way to market your home. It’s hard for potential buyers to picture themselves living in someone else’s home. This is where home staging comes in to neutralize the space.
Home staging takes each room and gives it a purpose. If your dining room table is where you fold laundry, do homework, and sort mail, it’s time to bring it back to the dining table. Home staging helps set the tone for what each room is used for.
The cost of home staging will vary by how many rooms you do and the size of your home. If the home is empty, it’s easier to stage and even leave a few rooms open. If you need to remove your current belongings, you’ll need to include this cost into the budget.
Selling your home as-is allows you to skip the staging and save your energy for packing and moving. There’s no need to spend a lot of money on staging when you want to sell as-is and get your home sold quickly.
4. Cleaning and Storage Fees
A clean house free of dirt, grime, and clutter will always sell faster. No one wants to walk into a dirty room. If you’re selling your home on the traditional market, you’ll want to get your home as clean as possible.
It’s time to declutter and depersonalize. This means donating, purging, and packing as many belongings as possible. The cleaner your home is the more buyers can picture themselves living there.
In your budget, factor in the cost to clean your home. This could be one or more professional cleaning providers. You’ll also want to budget for storage and junk removal if necessary.
If this sounds overwhelming and expensive, an as-is sale could save you money. There’s no need to hire professional cleaners, pay for storage, or spend weeks cleaning yourself.
5. Real Estate Commissions, Closing Costs, and Your Mortgage Balance
When it comes time for your closing, there are a few costs that you’ll want to plan for with a traditional sale. You’ll almost always have realtor commissions for your realtor as well as the buyer’s realtor. You’ll also have closing costs, title fees, and the balance of your mortgage to pay off if you have one.
These closing figures will vary from seller to seller. If you’re hoping to avoid expensive realtor fees and closing costs, selling to a cash investment company is more cost-effective. You won’t have to pay realtor commissions or any extra fees as you normally would.
Keep Your Profits and Avoid Home Selling Costs
The cost of selling your home shouldn’t have to come at the expense of your profits. The fewer sales costs you have, the more cash you’ll have in your pocket. It’s time to get your home sold quickly so that you can move on to the next chapter in your life.
If you’re ready to sell your Nashville home, fill out the contact form here. We’re ready to give you a cash offer and help you sell your home quickly.
