What Costs to Expect When Selling Your Home: A Complete Breakdown

If you’re considering selling your home, you may be wondering about the potential expenses involved. Selling a home can come with various costs, and understanding these expenses upfront can help you plan and budget effectively. From closing costs to optional repairs, this guide covers the most common costs homeowners face when selling their property. Let’s dive in.

1. Closing Costs and Agent Commission

One of the largest expenses sellers incur is closing costs, which include agent commissions and various fees. Closing costs are typically around 2-4% of the sale price, while agent commissions generally range between 5-6%. As U.S. News Real Estate explains:

“Closing costs are fees that finalize the transaction and transfer ownership of the home to the buyer... Sellers can expect to pay 2% to 4% of the sale price of the home in fees and taxes on top of the agent commission.”

For a median-priced home in 2023, this could mean total closing costs between $7,740 and $15,480. As part of the closing costs, in Brevard County, you can expect to transfer taxes ( doc stamps on the deed) to be .007 X sales price and some.  Depending on your agreement, you may also offer to pay a portion of the buyer’s closing costs to make your listing more attractive.

2. Pre-Listing Inspection and Repairs

While not required, many sellers choose to have a pre-listing inspection to address any issues that might arise during the buyer’s inspection. That inspection can cost $450-$650 but well worth it. Fixing minor problems ahead of time can prevent delays, help your home appeal to buyers and save you money in the long run in negotiations or even in the loss of a contract. 

If you prefer to skip the inspection, consult your agent. They can provide valuable insight on cosmetic updates or essential repairs to ensure your home stands out without overspending on unnecessary improvements.

3. Home Staging

In a competitive market, staging your home can make a significant difference in how it’s perceived by potential buyers. Staging can range from simple rearrangements to bringing in rental furniture or art. According to Bankrate:

“Home sellers typically pay between $782 and $2,817 in staging costs, although prices can vary widely.”

 I am a big believer that staging helps to sell the house quicker and for more money which is why I offer staging as part of my services to my clients. 

4. Additional Costs to Keep in Mind

Other costs, such as marketing expenses, holding costs, and any homeowner’s association (HOA) fees, may come into play, depending on your property. Discuss these with your agent to get a better picture of what to expect based on your specific situation.

Why an Agent Is Essential

Although some costs can be avoided, such as staging or inspections, working without an agent may cost you more in the long run. A knowledgeable agent can help you strategically price your home, market it effectively, and avoid costly mistakes. Their expertise can potentially boost your final sale price, covering the commission and more.

FAQs

1. What are typical closing costs when selling a home?

• Closing costs usually range from 2-4% of the sale price, plus the agent's commission, which is typically 5-6%.

2. Is a pre-listing inspection necessary?

• No, but it can help you identify and address potential issues before listing, which can make your home more attractive to buyers.

3. How much does home staging cost?

• Home staging can vary, with costs typically between $782 and $2,817, though this depends on the extent of the staging.

4. Can I save on costs by selling without an agent?

• While possible, working with an agent often leads to a higher sale price due to their marketing expertise and negotiation skills, which can offset their commission.

Sources

1. https://realestate.usnews.com/

2. https://www.bankrate.com/