Is Selling Your Sacramento Home a Financial Headache?

Selling a house may not be as straightforward as it seems, especially when it comes to the financial aspects. Before you rush into listing your property with an agent, it’s crucial to be aware of the potential costs and expenses involved. In this blog, we’ll give you the lowdown on what you should expect when selling a home in Sacramento – and trust us, it’s more than just sign-on-the-dotted-line simplicity.

So, you’ve made up your mind to part ways with your Sacramento abode. But before you dive headfirst into the process, there are a few financial factors you should bear in mind. Listing your house isn’t just about a one-time deal; there are costs to consider upfront and once the sale is in the bag. These financial factors will not only affect the pricing of your home but also help you decide who to team up with in this journey.

Research indicates that the average cost to sell a house in the US stands at a whopping $15,200! That’s no small change. However, keep in mind that this figure can vary significantly based on where you live and the overall value of your property.

Now, let’s break down the key financial factors to consider when selling your house in Sacramento:

Agent Commissions: Typically, agent commissions will consume about 6% of your home’s final sale price. While this isn’t an upfront cost, it directly affects the amount you’ll pocket once the deal is sealed. So, when you’re setting your asking price, keep this figure in your calculations.

Agent Fees: Depending on the agency, there may be additional fees incurred throughout the selling process. Some agents pass on marketing and listing fees directly to their clients. Make sure you’re well-versed in what’s included and what you might have to pay out of your own pocket in the end.

Closing Costs: Closing costs encompass various expenses settled at the closing table. These may include transfer fees, title insurance, title search fees, recording fees, transfer taxes, appraisal costs, discount points, credit report fees, and more. Typically, expect to allocate around 2% of your home’s final sale price to cover these costs.

Taxes: When you decide to list your home for sale, you become responsible for property taxes, utilities, and homeowners insurance up until the day of closing. If the property takes a while to sell, these costs can stack up into the thousands. So, the sooner you sell, the better for your wallet.

Prepping Your House for Market: Getting a home ready for sale takes a significant investment of energy, time, and money. Repairs, fresh coats of paint, and carpet cleaning are just the beginning. You’ll also want to depersonalize the space and stage it for potential buyers, which may involve spending money on new decor. Sprucing up the yard with landscaping can enhance your property’s curb appeal too.

Inspections: Though it isn’t mandatory, many sellers are opting to have their homes inspected before listing. This adds an expense of approximately $200 and up. Conducting an inspection beforehand allows you to address any issues preemptively and gives you an upper hand during negotiations.

Storage and Moving: While moving isn’t a direct selling cost, it’s an expense you’ll have to face once the sale is finalized. Whether you hire professional movers or go the DIY route, moving can strain your finances. Consider factors like distance, the need for a truck, and perhaps bribing friends with pizza. If you’re still living in the home while waiting for a sale, storage costs might come into play. Packing up unnecessary items ahead of time can make your home more appealing and ease the moving process.

Ready to sell your Sacramento house? We’ve got your back! Reach out to Laurel Buys Houses today by sending a message or giving us a call at (916) 476-2381. Let’s get the ball rolling on your property journey.

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