Are you planning to sell your home soon? While many homeowners have built up significant equity, it’s easy to forget that selling isn’t all about walking away with a pile of cash. From agent commissions to closing costs, there are several expenses that can chip away at your profits if you're not prepared, but don’t worry—being aware of these potential costs can help you dodge those last-minute surprises. Here are the costs that you can expect: 

Costs before the sale. Before listing your home on the Multiple Listing Service, you must consider expenses such as inspections, repairs, renovations, and cleaning. While not all of these are mandatory, some are crucial if you want to get the most money possible for your home. For example, a clean home with simple repairs and minor cosmetic upgrades will attract more buyers than a home listed "as is." Our company always holds a pre-listing meeting to discuss which pre-sale costs will improve your sales and fit your budget, as these expenses are typically out of pocket.

Costs of selling. Next are the costs associated with the actual selling process, such as agent compensation and marketing expenses. Depending on your agent and what they offer, compensation can range from a low flat fee to up to 7%. Many agents offer different compensation packages, allowing you to customize the level of service based on your budget. Other marketing costs may include Facebook ads, professional photography, videography, and staging. While some agents include these items as part of their compensation, not all do, so it's important to pay attention to what's included in your package.

“There are plenty of costs to consider, but knowing them upfront is the key to staying ahead.”

Closing costs. Finally, there are closing costs, which go toward transferring ownership of the property. These include title fees, escrow fees, mortgage insurance, seller concessions, and notary fees. While seller concessions can be negotiated and closing costs can vary based on your property's value, you can generally expect to pay between 0.5% and 1.5% of the total sales price at closing.

Time is also a cost. In addition to monetary expenses, selling a home also requires time and effort. Planning for a home sale is a lot of work, but you don't have to do it alone.

Selling your home is no walk in the park, but with the proper preparation, it doesn’t have to feel like a marathon, either. Yes, there are plenty of costs to consider—everything from pre-sale touch-ups to closing fees, but knowing them upfront is the key to staying ahead. After all, the more prepared you are, the fewer surprises will sneak up. So, as you gear up to sell, remember: the road to closing may have some bumps, but with a clear plan, you'll reach the finish line with your equity and sanity intact. 

If you're considering selling your home and want to know how much cash you'll need, we're here to assist. Call me at (480) 682-7533, and I’ll help you analyze and break down all the costs of selling your home.