Are you planning on selling your home in 2019? If so, like most sellers you probably are wondering how much money you’re going to have to spend to sell your home. In this post I’ll answer this question just so you will know what to expect in terms of cost when it comes time to sell your home.
Selling a home is supposed to make you money. And it’s true that a big percentage of homeowners actually squeeze a profit out of a home sale.
But hidden costs likely will eat into your profit. And in 2019, you can expect those costs to steal an average of $20,851 directly out of your pocket, according to Zillow and Thumbtack’s 2019 Hidden Costs of Selling analysis.
That ding to your wallet is primarily a result of closing costs, and improvements and other projects you make when prepping your home for sale, the analysis finds.
Zillow says closing costs — including agent commissions and transfer or sales taxes — add up to about $14,281, on average, nationally. And they can be much higher in pricier markets.
The cost of prepping a home for sale and moving costs to a new home also quickly add up to push the total cost of selling a home over that $20,000 mark, as Zillow notes:
“Sellers who hire professional help for common home prep projects tend to spend, based on a national average, $6,570 on improvements like interior and exterior painting, staging, and carpet cleaning, as well as local moving costs to their new home. But with the cost of labor varying by market, sellers in different areas could see significantly different costs.”
For example, sellers in Sacramento, California, can spend about $7,800 preparing their home for sale. By contrast, sellers in Phoenix are likely to earmark about $4,000 for the same projects.
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