When you are putting your house on the market, your goal is to MAKE money, not spend it. But there are costs involved when selling a home that you might not anticipate. Do not let yourself be blindsided by these UNEXPECTED EXPENSES:
- Utilities: Keeping your utilities running until closing is a good idea. Not only does it allow the Realtor to show that the home is fully operational, it also helps prevent other possible issues. For example, during hot, summer months having the A/C on will help to keep the home mold-free. And of course, you want the utilities on for the buyer’s final walk through. Your Realtor can help you decide when it is the right time to have the utilities turned off.
- Renovations & Repairs: Before putting your home on the market, you need to BUDGET for any renovations and/or repairs that will need to be done. Walls looking drab? They will need a fresh coat of paint. Stains on the carpet? You will want to give it a good steam cleaning. There may be a lot of little things that need to be done, or there might be one or two major projects. Either way, you will want to be prepared for the costs involved. Before getting started, do your homework, and find out which home improvements get the best return on investment.
- Seller Credits to Buyer: If you do not want to deal with repairs or renovations, it is possible to extend a SELLER CREDIT to the buyer to compensate for the cost of fixing up the house. These credits are a loan option that allows buyers to finance their closing costs and, thus, purchase the home with less cash down. But be aware that lenders cap the credit amount that a seller can extend to a buyer at 3% to 6% of the total mortgage.
- Moving Costs: Make sure you include moving expenses in your BUDGET when selling your house. Hopefully you will get your asking price and make a nice profit on your home sale, but you should be prepared to cover your moving costs even if the house sells for less than you hope.
- Staging Your Home: When your house is on the market, you want it to get as much exposure to potential buyers as possible. You will need to not only STAGE your home, but Great pictures and/or videos and descriptions of your home online are one of the most efficient ways to reach potential buyers. Jane Fischer and Associates offers professional staging, photography, and videos at no additional cost to you.
So, if you are planning to put your house on the market, now is the time to start planning for the extra costs involved. An experienced Realtor like Jane Fischer can assist you in figuring out the right asking price for your home to help cover all your expenses.