After deciding to sell your house on your own, you realize that some costs will be involved. Understandably, you’re asking: “What should I budget for if I sell my house on my own in New Orleans?”
The answer may be surprising.
Maybe home prices in your market are rising, or your home has increased in value over the years. Before counting your profits, you 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 New Orleans
In a hot market, many sellers think they can sell their own house to avoid standard commission fees. Truthfully, you’re still required to pay the brokerage fees of your buyer’s agent, even if you sell the house by yourself.
Many buyers aren’t interested in a problematic house – and most houses have some kind of issue. Sellers often need to complete some repairs before putting their house on the market. Repair costs can be substantial if there have been lapses in maintenance. For example, a new roof can set you back by as much as $20,000.
Curb appeal gets potential buyers to stop and come in the door, which makes it incredibly important. The number-one thing that enhances curb appeal is landscaping. The average cost of a thorough landscaping job, done by a professional landscaping service, costs a little over $3,000.
Staging and Photography
When asking, “What should I budget for if I sell my house on my own in New Orleans?”, many people don’t factor in this expense. You may not want to dismiss staging and professional photography if you want to sell your house quickly.
The goal of staging is make your home appear as attractive and inviting as possible. To display this quality online (which is where most buyers begin their search), you likely need some professional photos taken, ranging from $500 to $1,000 in price.
If you are moving from your current house to a new one, you don’t want to shut off the utilities in the home intend to sell. Buyers do not want to walk through a cold (or sweltering) and dark house. (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.) You should at least keep the electricity and gas on during the wintertime. If you’ve been living in the house being sold, then you already know what it will cost to keep the utilities on.
Capital Gains Taxes
If your house has increased in value quite a bit, you may have to pay this tax (based on the difference between purchase and sale prices, minus the cost of documented improvements). There are some generous exemptions, but keep 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 New Orleans?” you now know the answer is . . . quite a lot, actually.
But we can offer a fast, easy solution that may allow you to keep more of the sale price. Contact us by phone at (504) 224-9066 or fill out the form to discover more.