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When you sell your home, there are some hidden costs you should be aware of that will affect the amount of money that you net on your home sale.
The first hidden cost most sellers don’t think about is repairs. Before you put your home on the market, get a home inspection. That way, you can see if there are any problems before the buyer does their inspection. Some sellers don’t want to incur the cost of an inspection, but you will actually save money. The costs of making repairs that you find before you list the home will be far less than the costs the buyer will ask for.
Another initial cost sellers should know about are professional photographs. I pay for professional photographs on all of my listings, so this is not a cost incurred by my sellers. I’ve seen million dollar listings without professional photos, and it just does not look good. When you have thousands of buyers looking at your house online, you want to have the best pictures possible.
Landscaping and curb appeal are also incredibly important. Invest a little in cleaning up the outside of your home. Remember, if your home doesn’t look nice and inviting on the outside, it doesn’t matter how beautiful the interior is - buyers will keep on driving.
Staging your property is crucial. Think of it this way - there are probably three different shoe stores in the mall, and each one is staged differently to draw people into that particular store. Your home is competing against similar properties in the area, and if those properties aren’t staged, your staged home will look more appealing. Not only that, but staged homes sell for more money than unstaged homes.
When you sell your home, hopefully, you are making some huge capital gains. The downside is you may have to pay a capital gains tax if the gains are too big. Married couples can get $500,000 in capital gains without being taxed, and single owners can get $250,000 in capital gains without being taxed.
Finally, there are closing costs. Typically in Nevada, you can expect to pay 1.5% in closing costs. That covers things like the transfer tax, title fees, and your agent’s commission.
“
Investing in staging and professional
photography will get you more
money on your home sale.
photography will get you more
money on your home sale.
”
When you are preparing to sell your home, have your agent run a full market analysis so you know how much money you’re going to net on your home sale. Investing in staging and professional photography can increase that amount. If you have any questions, give us a call or send us an email. We would be happy to help you!
