If you are in the process of moving, it can certainly be an exciting time in your life. At the same time, it can be one that is filled with stress if you have a house that needs to be sold. You will want to prepare for this major event by accounting for some of the expenses that you will likely incur throughout the process. Being prepared will help you ease through the process, so let us now look at some of the biggest expenses that you need to aware of.
Repairs and Touch Up Jobs
When you live in your home, many of the items that you take for granted now must be fixed before someone else will find the house appealing. Consider the existing paint job. If you painted the interior red years ago because that is your personality, that is fine. Do not expect another family to fall in love with it, however, so the experts recommend that you repaint the house in a neutral color. You will also want to wash your windows and touch up any areas outside that have fallen through the cracks over the years. All of this needs to be done before the home is listed, and this takes a bit of cash.
If something in your home is broken or in need of repair before it works properly, those items will need to be fixed before you sell the home. This could include such items as cracked windows, stained carpets, faulty plumbing, and the list goes on. These repairs are likely not major (if there is anything major, it will come out during a home inspection), but they nonetheless provide yet another cost to selling a home both in terms of time and money. For these reasons alone, Turbo Buys Houses recommends that you might be better off just selling your home ‘as is’ for cash if you are need of a quick exit.
Closing Expenses
As you know, closing on a home is not nearly as simple as buying a television at the department store. There are a series of legal procedures that must be followed before ownership of a home can be transferred from one party to another. There is also the real estate commission to consider. The average is six percent, so that will need to be factored into the cost. You will also need to pay the title company, a transfer tax if you locality has one, and possible a home warranty for the buyer if that is included in the sale. Finally, do not forget to account for possible capital gains tax and any moving costs associated with the transition to your own new home.
All of these expenses can add up, but they should be more than offset by the joy you will get from beginning a new journey in life. Remember that you can always consider a cash offer for your house if you are in a hurry and do not want to worry about these added expenses. That you will give you the peace of mind you need as you prepare to move.
