Before you list your home with a real estate agent, consider some of these hidden costs that come with listing your home.
- Fix Up Costs: Unlike investors, the average Joe home buyer isn’t going to buy your home as-is. If you need any updating, or the home has any cosmetic problems a.k.a. paint, cracks, flooring stains, etc, you’re going to have to take care of that. Depending on the condition of the home, fixing up can cost you THOUSANDS. For example, say you need the whole home painted. According to home advisers, “The cost to paint an average size room (10X12) ranges from $380-$790, not including ceilings, trim or cost of the paint. DIY, this can cost between $200-$300.” That is ONE room! Just paint alone is an astronomical amount of money.
- Landscaping and Curb Appeal: If your home doesn’t have any landscaping, it’s going to look boring. Even if the buyer likes the home, if the neighboring home has the same amenities, but has beautiful landscaping, odds are they’ll go with the other home. Sprucing up the exterior of the home will help sell the home, but is costly if you haven’t kept up with it. If you decide to do landscaping yourself, the costs add up quickly. The average cost of shrubs right now is $25-$200 depending on size. You’ll need a few. Flowers are also expensive and you have to worry about them needing to come back.
- Photos for the listing: Your agent might suggest that he/she take photos of your home to list. Typically, the photos they’re going to take are not going to be the best, but you need to be the judge of that looking at their previous listings. If you need to hire a photographer, that is en expense you have to cover as well. Hiring a professional photographer will run you around $300 for photos only. You’ll need to get a video done as well because that catches the eye of potential buyers.