Overlooked expenses of selling a home
Home sellers spend on average $15,190 on common expenses associated with placing a home on the market; some of those costs include home improvements and closing costs according to a recent analysis by Zillow.
Home improvements such as interior painting, lawn care, and carpet cleaning along with closing costs are some of the common expenses often overlooked by home sellers. On average home sellers spend about $15,190 on overlooked expenses that include an average of $2,658 on things such as house cleaning, painting, and staging. The main chunk of overlooked expenses that sellers face come from closing costs that include real estate professional commission and sales or transfer taxes totaling an average of $12,532. Closing costs vary by location.
Sellers often do not start the process early enough in terms of research for costs sellers are responsible for and how it will affect your profit, or budget for the next home. To ensure a home is fully prepared to join the market partner with a good agent to help with the nuances of the market such as taxes and expected closing cost, and to hire local, skilled professionals to help with basic home projects.
The chart below outlines some of the average costs associated with selling your home, broken down by different metro area.
Source: Alexa Fiander