Factors to Budget For If I Sell My House On My Own In Orlando
Most people who decide to sell their home on their own don’t realize the costs that are involved. When taking on such a venture it is important to know exactly what to budget for while selling your home in Orlando. Don’t worry – we’ll give you the run down!
There are many variables to take into account. For instance, you may be thinking your home has appreciated considerably over the years, but don’t count your profits too soon. You will need to factor in these costs that may or may not have been obvious.
Factors to Budget For If I Sell My House On My Own In Orlando:
When selling a home, especially an older home there will most likely be some kind of issues and most buyers aren’t interested in a house that has problems. In most cases, sellers must do some repairs before putting their home on the market. These repair costs can vary – you may need to replace your roof which can cost you $20,000 or replace your HVAC which can cost up to $6,000. These are large expenses that can sometimes be unexpected.
You may plan to move out of your current home into a new one, but if you’re planning to sell the house, you can’t just shut off the utilities. No buyer wants to walk through a home that is uncomfortably hot/cold, or with no electricity. You want the home to be in its best showing condition. Keep in mind that if it is summertime and there is no AC, you run the risk of developing a mold problem. If you’ve lived in this home you can always “guesstimate” how much the utilities will cost to keep things running.
Staging and Photography
When selling your home staging and getting good quality photos of your home are quintessential. This factor is often overlooked, but if you don’t want your home sitting on the market for too long this is key. When staging it is important to set up and arrange your home to look as inviting as possible. After staging you will want to display this via online listings, which is where a large percentage of buyers search for homes. Professional photos can range anywhere from $500 to $1000.
Capital Gains Taxes
If your house has appreciated over the years, you might have to pay this tax. In real estate, capital gains are based not on what you paid for the home, but on its adjusted cost basis. There may be possible exemptions but Uncle Sam may take his cut.
Curb appeal is extremely important: it’s the first thing potential buyers see and what draws them into the home! Great landscaping can make a lasting impression and is a preview of what is to come inside. The cost of a thorough landscaping job by a professional can cost around $3,000 on average.
With all this in mind, you should be able to get a clear idea of what needs to be budgeted when selling your home on your own.