Laurence Real Estate | Cost of Selling Real Estate

Cost of Selling Real Estate

Selling a house is undoubtedly a major life event. But, while the idea of new beginnings should leave sellers excited for their next chapter, moving can sometimes be a challenging and emotional process.

This is, in part, caused by the unavoidable and seemingly hidden costs of selling a house. To make your journey less stressful, understanding these costs before beginning the process is essential. This way, you are not blindsided by any extra or unexpected expenses.

Maintenance costs

Before selling a property, it is very important to make sure that your house is in the best possible condition. This often means performing maintenance tasks both inside and outside of the home.

Taking the time to ensure that maintenance issues have been attended to does cost money. However, this is an important step in the process of selling a house and therefore achieving the best possible sale price.

A house that appears run-down will struggle to sell. To negate this, you will have to fix plumbing issues that have left water marks on the roof. In addition, fresh coats of paint will need to be applied to cracked and marked walls.

Maintenance might also encompass having pools and tennis courts professionally cleaned. Sellers may even need to clean roofs and gutters. A real estate agent will advise you on what maintenance works are crucial and what can be left for the new owners.

Marketing costs

In most real estate agencies, marketing costs are separate from an agent’s commission. With this in mind, in the modern-day, marketing campaigns encompass both digital and print media in order to be successful. Digital marketing can include:

Digital brochures
Real estate portal listings
Social media posts
Professional photography
Drone footage

Print marketing can involve:

Signage
Property brochures
Newspaper and magazine advertisements
Professional copywriting

While there are many marketing techniques, the agent will not employ every single one. Instead, marketing campaigns will be tailored to your specific property, location and target buyers. With this in mind, marketing can cost anywhere between hundreds and thousands of dollars. However Laurence Real Estate has an advertise now pay later plan that you can use to create the marketing plan you really want and pay for it after the sale of your property.

Moving fees

Moving costs can easily be forgotten. However, it is worth mentioning that they will almost always be incurred. This is because sellers will need help moving furniture and boxes from their old house into their new property. Moving costs can be a fixed or hourly rate.

Miscellaneous expenses

When selling a home, there are many different miscellaneous expenses to consider. While these costs might not apply to everyone who sells their house, they are expenses that are worth mentioning.

Styling your property

Styling will transform your property, create an instant impact, captivate your target audience and develop an emotional connection between the purchaser and your home. Through professional selection of furniture, artwork and accessories, styled properties present to the buyer a warm and welcoming environment and an alluring sense of home.

Capital gains tax

For those selling a rental property, holiday house or vacant land, Capital Gains Tax is an added expense. In essence, Capital Gains Tax is the tax you pay on the profits garnered from selling assets whether they be property or stock.

Completing your house sale with Laurence Real Estate

Selling a home marks a major life transition. With so many emotions and feelings of stress tied into the moving process, look for a real estate agency that will help make this transition as seamless as possible.

While the moving process and the associated costs may seem overwhelming, Laurence Real Estate can help break down the many components of selling a home. Helping take the stress out of moving.

Whether you are preparing to sell or looking for more information, our Laurence Real Estate team is waiting to assist you. We offer you experience alongside excellent market knowledge that helps make the selling process as smooth as possible. A little help from the Laurence Real Estate team can be invaluable when selling your home.