You made the choice to sell your house privately and you now need to determine the costs involved. You ask yourself, “what should I budget to sell my house on my own in Austin?”
The answer may surprise you.
It is true that home prices are rising in quite a few markets nationwide. It may also be the case that your home has appreciated considerably over the years. But before you count your profits, you’ll need to factor in these obvious and not-so-obvious costs of selling your house.
Many sellers believe that in a hot market they can sell their house themselves and avoid the standard commission fees. This is unfortunately not the case. Even if you sell your house on your own, you still must pay the buyer’s agent’s brokerage fees.
Most buyers aren’t interested in a house that has problems or requires repairs. They want to ideally buy ready-made. Most of the time, most sellers must do some repairs before they put their house on the market. And if the maintenance has been allowed to lapse, these repair costs can be substantial. A new roof, for example, can set you back by as much as $20,000.
Curb appeal is of utmost importance: it’s what gets buyers to stop and want to see more. Landscaping is the number-one improvement that most enhances curb appeal. The cost of a thorough, full-blown landscaping job performed by a professional landscaping service runs on average around $3,000.
Staging and Photography
Many people – when asking, “what do I need to spend to sell my house in Austin?” – often forget about staging and photography. But these are important considerations to help sell your house more quickly.
Staging involves arranging your home so that it appears as appealing and inviting as possible for buyers. And then to display the staging in online listings, which is where a large percentage of buyers begin their search, you will need professional photos. This elements range in cost from $500 to $1,000+.
If you plan to move out of your current house into a new home while you are selling it is important to keep the utilities on. Buyers would like to walk into a warm, bright and inviting house. Also, if you choose to turn off electricity and air conditioning in summer months there is a risk of developing mold. These are some additional costs to consider while selling your home on our own.
Capital Gains Taxes
And then there are capital gains taxes. If your house has appreciated substantially, you may have to pay this tax – which is based on the difference between purchase and sale prices, minus the cost of documented improvements. There are, however, some exemptions to investigate.
If you’re wondering, “what should I budget to sell my house on my own in Austin?” you now know the answer is…quite a lot!
Our team offers an easy solution that will allow you to keep more of your sale price. Contact us by phone at (512) 579-3952 or visit texasfairoffers.com.