How Much Will It Cost to Sell a House? A Basic Guide

Are you short on time and trying to find a way to sell your home?

It can be expensive and time-consuming to sell your house. This is why it’s so important to plan ahead by making a budget. To do this, you’ll need to know real estate agent costs, closing costs, and costs related to vacating your home. 

To help you determine the cost to sell a house, we’ve created a guide. Read on and we’ll tell you the important details you’ll need to know. 

Home Preparations

It’s easy to overlook the costs related to preparing your home. This includes things like cleaning, staging, landscaping, marketing, and home improvement. The most expensive thing you’ll need to plan for is staging, which will cost around 1,800 dollars. 

When added together, all of your home preparations costs should be between 2,000 and 3,000 dollars. 

If you’re trying to sell your house fast, one of the top home selling tips is to get started right away with your home preparations. 

Expenses Related to Vacating Your Home

The typical cost related to vacating a home varies because it will depend if you’ll be moving locally or if you’re moving cross-country. Local moves will cost around two hundred dollars if you’re moving into a small apartment and more than two thousand dollars if you’re moving into a four-bedroom house. 

Home Selling Fees and Closing Costs

You should expect sellers to charge somewhere between eight to ten percent of the house’s sale price. This includes the commission the agent makes as well as the seller fees. Closing costs also include title insurance, escrow fees, HOA fees, and attorney fees. 

If you’re selling a house for four hundred thousand dollars, expect the closing costs to be somewhere between eight to ten thousand dollars. Keep in mind that these costs are not fixed. It will depend on things such as your tax rate and the value of your home. 

Real Estate Fees

After you settle the closing costs, there’s still more that you’re going to need to pay. If you still pay your mortgage, you’ll need to pay off the balance while you’re settling the closing costs. 

It’s also easy to forget about the capital gains tax. Depending on how often you’ve been living in your house while you’ve owned it, you might be able to receive tax breaks on the profit of the sale.

If you’ve been living in your house for less than two of the last five years, you should be prepared to pay the capital gains tax

Set a Budget for the Cost to Sell a House

If you’re not prepared, the cost to sell a house will take you by surprise. This is why it’s important to set a budget for your home selling fees. You’ll need to pay for things like preparing your home, vacating your house, and closing costs. 

Are you interested in learning more about what it takes to sell your home? If so, then consider checking out the household and real estate articles on our website.