Selling a home can be a great financial move. However, many homeowners in Birmingham, AL, might not realize the additional costs they’ll incur during the selling process. Beyond just the cost of hiring a real estate agent, there are other fees that can add up, subtly eroding your profit margin. Let’s break down these hidden costs that home sellers face.
Cleaning is a necessity before placing your house on the market. A well-cleaned house not only fetches a higher price but also sells quicker. However, it goes beyond the daily cleaning routine. You’re looking at deep cleaning which includes windows, carpets, kitchen appliances, bathrooms, and the exterior of the house. Hiring a professional cleaning service in Birmingham can cost anywhere from $200 to $400 depending on the size of your home. Keep in mind this could be higher if your home hasn’t been deep cleaned in a while.
Staging is the art of presenting your home in the best possible light to prospective buyers. Professional stagers might bring in their own furniture and décor to highlight your home’s best features. According to HomeAdvisor, home staging in Birmingham can cost anywhere between $500 to $1,200 per room per month, which can add up quickly if your home takes a while to sell.
Often, buyers will request a home inspection, and any faults discovered, such as faulty wiring or structural issues, will either need to be fixed or will reduce your asking price. Even if the buyer doesn’t request an inspection, it’s in your best interest to disclose any issues or fix them. Repair costs vary widely but expect to set aside a few thousand dollars for this.
The longer your house stays on the market, the more it will cost you. Holding costs include the mortgage, utilities, property taxes, insurance, and general maintenance, which can easily total several thousand dollars over a few months. These costs accrue until the closing day, even if you’ve already moved out.
If you move out before selling or need to declutter for staging, you may need to rent a storage unit. In Birmingham, the cost for a mid-sized storage unit averages between $75 and $200 per month, depending on the size and location of the storage facility.
While your real estate agent will handle much of the marketing, you may decide to add additional marketing channels. Professional photos, virtual tours, flyers, and premium online listings can increase visibility but come at an extra cost, which can range from $200 to over $1,000.
As a seller, you will be responsible for some closing costs, which can include title insurance, attorney fees, and transfer taxes. On average, you can expect these to total about 1-3% of the home’s sale price.
Selling a house involves several professionals, from real estate agents to home inspectors. While real estate agent commission is the largest of these – typically around 6% of the sale price – you’ll also need to pay for a home inspector, which can range from $300 to $500 in Birmingham.
At times, real estate agents may advance costs for things like repairs or staging, expecting reimbursement at closing. These should be detailed in your agreement with your agent, but it’s something to keep in mind as an additional potential cost.
We Buy Houses in Any Condition
Selling a home comes with a slew of hidden costs that can significantly cut into your profits. That’s why many homeowners in Birmingham, AL, choose to sell their homes to us at We Buy Houses Birmingham, AL. We buy houses in any condition, for cash, eliminating the need for repairs, staging, or agent fees. Get in touch with us today at (702) 850-8001 for a no-obligation quote and leave the hidden costs to someone else. You can have your house sold in weeks!