Q: What’s the true cost of selling a home?
A: Roughly 10-12% of the sale price.
Here’s a DETAILED breakdown (with 2022 data):
– Agent commissions: 5-6% of the sale price, split between the two agents.
– Attorney fees, transfer taxes, and other administrative costs: 1% of the sale price
– Home repairs and inspection requests: $100-10,000. The most common repair on a home inspection report? Sticky doors that need adjusting. The second? Leaky faucets and shower heads.
Optional expenses:
– Moving: The average cost of a local move with a two-person team is $1,400. A cross-country move will set you back $2,200-5,700. Save on moving by grabbing a few friends and DIY.
– Interior staging and exterior landscaping: 18% of sellers’ agents said staging increased a home’s value between 6-10%. Staging and landscaping will run 2% of the sale price, making both worthy of your time and money.
– Seller concessions: To sweeten the deal, you may help a buyer with inspection fees, processing fees, or other costs. Usually, no more than 2% of the sale price.
– Home warranty: Some sellers offer buyers a warranty to cover the home leading up to closing, so the buyer knows they’re not facing repair costs as soon as they sign. A home warranty costs $300-500.
One mistake I see from sellers? Pouring money into the wrong improvements before getting an agent involved.
If you’re thinking of selling, don’t wait to get an agent’s eyes on your home — it’ll focus your efforts and help you get every dollar out of your home. Want help? Contact me today.
Source: https://www.bankrate.com/real-estate/how-much-does-it-cost-to-sell-house/
Source: https://www.parealtors.org/what-are-the-most-common-repairs-that-show-up-in-home-inspections/
Source: https://www.rockethomes.com/blog/home-selling/cost-of-selling-a-house
| DEBBIE SPENCER GROUP |
| REALTOR®, CRS, SRES |
| m: 617-285-7300 t: 781-860-7300 e: debbie@thedebbiespencergroup.com |
| 1 Militia Drive, Suite 204, Lexington, MA 02421
|
