While the process of selling your home can be an exciting time as you think about the money you will get for your property, it can also quickly turn into a nightmare if you don’t know what you’re getting yourself into. It’s easy to forget that even though you are the one selling, there are many costs involved to get to the final stage of your sale.
This blog will discuss the various kinds of costs associated with selling a house in Colorado Springs. Most of the costs will be monetary; however, there are some additional costs that you probably didn’t see coming.
The Monetary Costs
The amount of money you will end up spending when selling your home is directly related to the way you go about selling it. If you choose to sell your house through a real estate agent, you’ll have to deal with costs such as:
- The Realtor’s Commission: This is the percentage of the sale earned by the real estate agent. Depending on their level of expertise, this can be anywhere from 3-6% of the final sale price.
- Closing Costs: These are costs derived from taxes, paperwork, fees, insurance, and more. In total, they can end up being up to 7% of the final sale price.
- Home Repairs: For your house to be sold quickly, you need to ensure it’s in great shape. This is where you may need to spend in painting walls, replacing your roof, or any necessary repairs to make the house more appealing to prospective buyers.
Additionally, there are costs associated with keeping your house running while you make the sale. After all, the process with a real estate agent could take months before you can close a deal. These costs can include but are not limited to:
- Cleaning: You’ll want to make sure your house is in tip-top shape at all times in case you have a prospective buyer wanting to visit. This probably means having to hire a professional company to clean your home thoroughly.
- Yard-Work: To fully showcase your home’s beauty, you want to make sure your yard is well taken care of, as this is the first thing people see. Adding plants, cutting the grass, and keeping the yard pest-free can quickly add up to make you spend a couple of hundred dollars.
- Utility Bills: One of the essential costs many people tend to forget about when selling their home is utilities. Even if you are no longer living in the house, you still need to ensure that the water and electricity bills are up to date if your home is sold. If the process to sell your home takes months, you could be looking at thousands of dollars in utilities alone.
The Costs You Probably Didn’t Consider
So selling a home can mean having to spend a lot of additional money. Maybe this is not something that scares you if you have the financial resources to take care of it while you close the sale. However, have you stopped to think about the non-monetary costs associated with selling your home?
Aside from having to spend money out of your pocket when trying to sell a home, two unquantifiable things will cost you something at the end of it all.
- Stress: It’s no secret that the whole process of selling your house can become extremely stressful. Whether it’s because you’re having a hard time finding a buyer, your expenses are more than you expected, or you’re worried that you won’t be able to sell it, stress takes a significant toll on your overall health and well-being.
- Time: Imagine all the time you’ll have to spend organizing your home for showcases, going through legal processes if needed, or attending meetings with your realtor to ensure you’re making progress. Again, if it takes months to close a deal, you could be missing out on a lot of time that could’ve been spent with your family or attending to more pressing matters.
Sell Your Home Quickly & Hassle-Free
At Colorado Cash For Keys, we can help you avoid the stress and anxiety that comes with selling a home. We’ll buy your house as-is, no repairs needed. Save thousands of dollars by avoiding those annoying fees and commissions. Best of all, our process is so fast you can have a cash offer, and the sale closed in as little as 7 days. Contact us now to get an offer.