Seven Extra Costs to Think About When Selling Your Home
It’s safe to say there is plenty of financial obligations to consider when you’ve decided to sell your home – but here are seven extra costs you may not have already considered.
Decorating Costs
Depending on the current design theme of your home, you may need to invest a lot of money in transforming your décor to something a little more neutral. Bold color schemes and furniture choices can often serve to deter buyers – especially if they favor a more minimalist or neutral approach. You should factor into your budget the potential need to buy white paint and decorating tools as a starting point.
Moving Extra Costs
If everything goes to plan and your home does sell, you will need to factor in the cost of moving out of your current home – something which is easy to avoid budgeting for when you are caught up in the initial selling process.
It’s a good idea to start preparations for moving, such as gaining quotations from moving companies, before viewings begin. This way, if buyers are looking for a very quick move when they have made an offer, you can rest easy knowing you have a moving plan and service on standby for a smooth transition.
Landscaping Extra Costs
The curb appeal of your property makes a lot of difference when you’re looking to sell. Even if the interior of your home is beautifully decorated, it can be significantly let down by an unkempt garden or neglected outside space.
To add serious value to your home and to improve your chances of selling, you may need to invest in updates to your garden.
Expenses of Fixing Any Issues
When your property isn’t on the market, any issues can easily be addressed at your own pace. You may need to wait until you have enough money to fix the faulty stove, or perhaps you’re ignoring that loose slate on the roof until the next payday.
However, the moment your property goes on the market, issues will need to be addressed immediately so that they aren’t seen during viewings. This means an emergency fund for any problems is a good idea.
The Possibility of Reducing Your Selling Price
No matter how perfect your home is, there is always the chance that it might not sell as quickly as you had hoped, and you are therefore faced with the possibility of reducing the asking price. You should think carefully about how this reduction will affect your finances or any future property you’re hoping to move into.
Storage Extra Costs
If your home is overly cluttered or houses some unique items which are better stored out of sight, you may need to factor in storage facility costs. This is also applicable if you need to move out of your current property following a successful sale but haven’t yet found a new property for all your items.
General Maintenance Costs
Keeping the windows clean, maintaining the lawn, making sure all broken bulbs are replaced, and ensuring your home is flawless for every viewing adds up cost-wise. This is especially true if you’re cleaning more often than you usually would due to the number of viewings. Set aside general maintenance and shopping money to make sure your home never goes lacking.
