When you think about selling your home, it’s easy to become overly excited about the money you will get in return. However, not many people take the time to think about the actual expenses they will incur in this process. You are selling your home, so why would that mean you need to spend money to sell it?
Selling a home already comes with a lot of hassle, and it’s important to acknowledge that money plays an important role as well. If you’re thinking about selling a house in Colorado Springs, you definitely want to be informed of all the expenses that are associated with this process to not be taken by surprise.
In this article, we’ll go through some of the most common expenses you may deal with when selling a home. Keep reading to learn about the best way to keep more money in your pocket and make it a hassle-free and enjoyable experience.
Common Expenses You’ll Have When Selling Your Home
The amount of money you will end up spending when selling your home is directly related to the way you go about selling it. Most people opt for hiring a real estate agent. After all, if everyone is doing it, then it must be the best option, right? However, there are many fees and costs associated with working with realtors you need to be aware of before deciding to hire one.
The Realtor’s Commission
One of the highest costs you will have to deal with is the real estate agent’s commission. The usual percentage is around 3-6%. However, this can vary depending on the final sale price. In some cases, this commission rate could be negotiated with the agent. Still, it is very unlikely that it can be avoided, especially if you are dealing with an experienced realtor.
Closing Costs
Closing costs are another cost that homeowners have to deal with when selling a home through real estate agents. This can be as high as 3 to 7% of the final sale price. These costs are derived from taxes, paperwork, fees, insurance, and more. The simple fact that these costs are so unpredictable can rapidly make you wonder if your sale will be as profitable as you expected.
Home Repairs & Improvements
Though not extremely necessary, making repairs and improvements to your home can increase its value and make it more attractive to prospective buyers. Whether it be replacing the roof, painting the whole house, or fixing the infrastructure, home repairs can quickly become a considerable expense.
Pre-Sale Home Inspection
If you’re not sure of the improvements your home needs, you will most likely have to invest in a professional inspection. The inspector will do a thorough inspection of your home and advise any issues or problems that need to be addressed. This, of course, means you will have to take money out of your pocket to fix them, no matter how many repairs this means.
Staging Your Home
Staging a house has the sole purpose of making prospective buyers feel at home, and it has proven to help sell homes faster. But making your house “open house worthy” more than likely implies hiring a cleaning company and renting or buying furniture to make it look cozier. Just the thought of having to hire those services adds more dollar signs in your mind.
Lawyer Fees
While having a lawyer is not mandatory when selling a home in the state of Colorado, some homeowners feel obligated to hire one for the legal guidance they can provide. This is especially true when the legal status of a home is not entirely straightened out. Nonetheless, this is an additional expense that will come straight from your pocket.
Sell Your Home & Save Money Will Doing It
If learning about all the expenses that selling a house implies has given you a headache already, we are happy to provide you with an easy solution. We’re Colorado Cash For Keys, and with our home buyers, you don’t have to worry about agent commissions, closing expenses, repairing or staging your home, or much less lawyer fees. We buy your house as-is, no fees, no commissions, and best of all, no hassle.
Avoid the stress that comes with selling a home. Get a cash offer and close the sale in as little as 7 days. Contact us today.