You’ve decided to sell your house on your own, and you know that you’re going to have to spend some money. Thus, if you are wondering: “What costs should I consider if I want to sell my house on my own in McAllen?”
Keep on reading so you don’t overlook something.
It is true that home selling prices have been going up in few markets across the country. 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.
What Should I Budget for if I Sell My House on My Own in McAllen
Commissions
Even if you want to sell the house on your own, you may end up having to pay the buyer’s agent’s brokerage commission fees . A lot of sellers think that in a hot market they can sell a house themselves and thus avoid the standard commission fees. But the truth is otherwise. Even if you sell your house on your own, you still have to pay the buyer’s agent’s brokerage fees.
Repairs and Updates
Most buyers are looking for a move in ready property – and most houses have some kind of problems. Most of the time,before selling the house the homeowners will have to do some repairs to their property. If the house needs major updating these costs can be a major issue. A new roof and plumbing issues can be quite substancial and some sellers may not be able to affort them.
Curb Appeal
Landscaping is very important to attract potential buyers. A house with good curb appeal will have the potential buyers stop scrolling down while they search for properties on the internet or stop outside and take a picture while driving by your street. Landscaping is the number-one improvement that will enhances curb appeal. The cost of a full-scale landscaping job performed by a professional landscaping service runs around $2,000.
Staging and Professional Pics
Many people – when asking, “What should I budget for if I sell my house on my own in McAllen?” – often neglect to factor the costs involved with staging their property and getting it picture perfect. If you don’t want your house to sit on the market for months on end, you probably shouldn’t neglect staging and professional photography.
Staging involves setting up and arranging your home so that it appears as appealing and inviting as possible. And then to display the staging in online listings, which is where a large percentage of buyers begin their search, you will likely need some professional photos, ranging in cost from $500 to $1,000. Staging may involve renting a storage unit to put some of your personal belongings and furniture away in order for your house to look more spacious.
Utilities
If you plan to move out of your current house into a new home, you can’t just shut the utilities off in the home you vacate and intend to sell. Buyers absolutely do not want to walk through a hot and dark house. (Also keep in mind that if you turn off the electricity and air conditioning during the summer, you run a high risk of developing a mold problem.) So, at the least, you will need to keep the A/C on. If the house is one you’ve been living in, then you already know what it will cost you to keep the utilities on. During the Summer, you may also consider living the sprinkler system on, so the grass doesn’t dry out completely around the house.
Capital Gains Taxes
And then there are capital gains taxes. If your house has appreciated quite a bit, 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 pretty generous exemptions, but just bear in mind that Uncle Sam may take a cut.
So if you’re wondering, “What should I budget for if I sell my house on my own in McAllen?” you now know the answer is . . . quite a lot, actually.