4 Hidden Home Selling Costs You Can't Afford To Ignore

When you put your home on the market, you're probably thinking about the pretty profit you'll make. But what's easy to forget is selling a home costs money, too—sometimes a lot of money.

The costs of selling a home may not be what you have in mind when you’re ready to put your home on the market. You’re probably already picturing the dollars pouring into your bank account—after all, home prices are rising in many markets across the country, and odds are pretty good that your home has appreciated over the years. So it only makes sense that you’d stand to make a profit, right?.

But what’s easy to forget is selling a home costs money, too—sometimes a lot of money. This is what’s known as a reality check.

There are some obvious costs of selling a home that you’ve probably anticipated, like commissions to the listing and buyer’s agents (which typically amount to 5% to 6% of your home’s price). But there is also a variety of smaller expenses to factor in. Here’s where your money might go, how much you should expect to pay, and some real ways to curb these costs.

0:24 - Costs add up for repairing the house
If you’ve let your home’s maintenance lapse, you may need to hire a handyman or a general contractor (depending on the nature of the work) to get your property ready to put on the market. This isn’t the time to cut corners.

1:18 - Professional photographs don’t come cheap
Four in 10 home buyers start their search by looking at properties online, according to the National Association of Realtors®’ 2015 Real Estate in a Digital Age Report. And photos are overwhelmingly viewed first, according to a study by Old Dominion University. Therefore, it’s worth paying for a professional photographer. Granted, it would be cheaper to let your agent take pictures; so, if your agent offers this, look at photos from her previous listings to gauge the quality of the work.

1:44 - Landscaping
Curb appeal is what gets buyers in the door—and improving your landscaping can raise your home’s value by up to 12%, according to research from Virginia Tech. While prices vary, the average cost of a full-on landscaping job—flower beds, plants, trees from scratch—is around $3,239, according to HomeAdvisor. That said, you can save on these costs by doing at least some of the work yourself.

2:12 - Closing costs
Closing costs will likely be your second-biggest expense behind commission fees. You can expect to spend roughly 2% of your home’s sale price, says Keith Gumbinger, vice president at mortgage information resource HSH.com.

More House Selling Videos: https://www.youtube.com/playlist?list=PLmlKLrMX62Ma9yg1DO3CjqTt1iA3AkyHs

More House Rules - Advice From Real Estate Pros: https://www.youtube.com/playlist?list=PLmlKLrMX62MYW8m4HYcpTO-4eiJFgK8te

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Learn More about the home buying process: "Home Buying 101: How Do I Get Started?"
https://www.youtube.com/watch?v=zqZI4ZvjcRM
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