Now that you have made the decision to sell your house on your own, you are likely beginning to realize there will be some costs involved. So you’re now asking: “What costs should I budget for if I sell my house on my own in San Antonio?”
What you might find suprising is the answer.
Home prices have been rising in the San Antonio area over the past couple of years. It may even be likely that your home has appreciated considerably over the years. Now we are in a more flat lined market. But before you count your cash from your equity, you’ll want to factor in these obvious and some not-so-obvious costs of selling your house.
What Costs Should I Budget for if I Sell My House on My Own in San Antonio
1. Realtor Commission Fees
Let’s get this one out of the way right off the bat. 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. Otherwise the buyers will likely be steered away from your house by their agent. Alternatively, their agent may ask the buyer to pay the commission and that isn’t likely since most of the time the commission is paid for by the seller.
2. Required Repairs
Most buyers aren’t interested in a house that has problems – and most houses have some kind of issues. Most of the time, most sellers have to 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 fairly substantial. A new roof, for example, can set you back by as much as $20,000. Additionally, some lenders require certain repairs to be made before they will lend on the house. Most buyers will have a professional inspection done. After the inspection, they will likely find items that need repair and will ask the seller to fix the items or give them a cash credit at closing for the repair items. Unless you are dealing with a cash home buyer in San Antonio, you will likely be making some reapirs. To learn more about getting an all cash, as-is offer click here —>>> https://www.sellmySAhouseFast.com
3. Landscaping (don’t skip this one!)
Curb appeal matters most: it’s what gets potential buyers to stop and then come in the door. And 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, just a little over $3,000. We aren’t just talking about throwing down some mulch here.
4. Profesional Photography and Staging
Many people – when asking, “What costs should I budget for if I sell my house on my own in San Antonio?” – often neglect to factor in this expense. But 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 in San Antonio begin their search, you will likely need some professional photos, ranging in cost from $500 to $1,000.
5. Cost of Utilities
If you plan to move out of your current house into a new home, you can’t just cancel CPS in the home you vacate and intend to sell. Buyers absolutely do not want to walk through a super hot (or cold) 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 and the smells that come with it.) So, at the least, you will need to keep the electricity on and probably the gas as well in the wintertime. Additionally, you will not want to cancel you account with SAWS. Water will still need to be used for proper lawn care and to keep the toilets operational. If the house is one you’ve been living in, then you already know what it will cost you to keep the utilities on.
6. Possible 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 costs should I budget for if I sell my house on my own in San Antonio?” you now know the answer is . . . quite a lot, actually.
Now that you know some of the costs, if you would like to receive a guaranteed all cash offer for your house from Capstone Hombuyers, give us a call. If you are still thinking about selling your house on your own, check out one of our previous blog posts where we give you some crucial tips that will absolutely help you sell your house in a fraction of time time. (click here)