How Much Does It Cost to Sell a House

How Much Does It Cost to Sell a House?

Selling your home is a big decision, and having a clear understanding of the costs involved is crucial. Let’s walk through the various expenses so you can plan accordingly.

Marketing Costs

Every property is unique and deserves its own tailored marketing approach. Setting a marketing budget is essential, and typically, the vendor covers these costs. While some agents might offer deals, ultimately, the marketing expenses are borne by you, the vendor.

Your agent will recommend a marketing campaign and provide a “Marketing Schedule.” Be sure to discuss this in detail to fully understand what you’re paying for and the cost of each item on the schedule. Depending on your property, location, and budget, marketing costs can range from $2,000 to $10,000+.

Getting Your Home Ready for Sale

Preparing your home for sale can vary greatly in cost. Smart investments in cleaning and improvements can yield significant returns. For example, spending a few hundred dollars on landscaping can add thousands to your sale price, enhancing both appeal and speed of sale.

Styling your home is another important factor. Whether you do it yourself or hire a professional, a well-styled home can significantly boost its attractiveness and final sale price.

Lender Fees

If you have a mortgage on the home you’re selling, you may need to pay a discharge or early exit fee. Each lender has different rules, which will be detailed in your mortgage contract. These fees can range from $150 to $1,500+.

Agent Fees

Agent fees can vary substantially, and it’s important not to base your decision solely on cost. As the saying goes, “If you think a professional is expensive, wait till you see how much an amateur will cost you.” Generally, there are two types of agent fees:

• Flat Fee: A fixed fee for the sale of your property, regardless of the sale price.
• Percentage of Sale Fee: A percentage of the final sale price, typically ranging from 1% to 3%.

If selling by auction, factor in additional costs ranging from $500 to $2,000+. Review the agent’s fee schedule carefully before signing.

Conveyancing Fees

Conveyancing is required for every real estate transaction in Australia, involving the transfer of legal ownership. While you can do this yourself, it’s not recommended due to the risk of costly mistakes. Licensed conveyancers or solicitors usually handle this process.

Given the substantial paperwork and regulations involved, using a local solicitor can be advantageous. Budget between $800 and $2,000+ for conveyancing services.

Welcome Home

At JKL, we’re here to support you through every step of your selling journey. Our team ensures that you’re informed and comfortable with each aspect of the process.

Experience our JKL real estate experience. We’ll put the welcome mat out for you!