If you’re serious about selling your home in the near future, one of the main things you’ll want to know is how much the whole process costs.
There are various fees and outgoings to think about, here is a breakdown of the most significant:
Estate agent fees – Most estate agents charge a commission fee as a percentage of the sale price. Fees vary depending on location, but are usually charged between 1% and 2%. This means if you sold a home for £200,000 at a fee of 2%, your estate agent fee would cost £4,000. Some estate agents charge a fixed fee, while you’ll also need to work out whether you want to commit to a sole or multiple agency agreement.
Removals – When you move out, you’ll also need to factor in the cost of removals. You could organise this part of the process yourself, but at the very least you’ll likely need to hire a van. The cost of a professional removal company varies up to around £1,500 at the very top end. It’s important to note that Fridays tend to be the busiest days for removals firms so you’ll need to get in early if that is your moving day of choice.
Energy Performance Certificate – It’s a legal requirement for you to provide an Energy Performance Certificate (EPC) when selling your home. This document informs buyers how energy efficient your property is and will likely set you back between £50 and £120.
Renovation – In preparation for selling your home, it’s crucial that it looks its very best and everything is in good working order. Therefore, you may choose to make some upgrades before going to market. Significant renovations like a new kitchen will cost you in the thousands, while it’s recommended to put a few hundred pounds aside to complete any unfinished jobs or fix anything that’s broken.
If you are buying a property at the same time, you’ll also need to consider your mortgage costs and stamp duty.
What’s more, there are likely to be a few unexpected costs that crop up through the selling process, which means it’s useful to put aside some contingency money so you’re not left unable to afford things.
If you want more advice on budgeting or more detailed information on the cost of selling your property, get in touch with us today and we can provide you with everything you need.
We can also provide you with a full market appraisal to give you an idea of how much your home could sell for in the current market it and how we’d advertise it to prospective buyers.