While the average real estate agent commission hovers around 5% to 6%, depending on where you live, the total cost of selling tends to be higher.
When you factor in additional costs that are common in most sales like repairs, closing costs, and relocating costs, your total expenses can come closer to 10% of the home’s sale price.
There can also be a substantial investment of time as you wait for the right buyer to make an offer, qualify for a mortgage, and then close the deal.
This guide gives you an overview of how much it costs to sell your home so you can choose the best way to sell that makes sense for your budget.
If you’re exploring different options, learn how the cost of selling to Opendoor compares to a traditional sale.
What is the cost of selling a house, in a nutshell?
Assuming you sell your house for $248,000 (the median price for a single-family home in the U.S. in 2018) you could end up paying $41,000 in total costs. The real estate commission will be most likely the biggest fee you will pay as a seller.
See out a more detailed breakdown of our estimated home selling cost in the section at the end of this guide.
What is the cost of selling a house, in a nutshell 2?
Assuming you sell your house for $248,000 (the median price for a single-family home in the U.S. in 2018) you could end up paying $41,000 in total costs. The real estate commission will be most likely the biggest fee you will pay as a seller.
See out a more detailed breakdown of our estimated home selling cost in the section at the end of this guide.
Preparing your home to sell
Before listing your home, you’ll want to ensure that it’s market-ready to attract interested buyers. There are four main costs to consider as you prep your home.
Staging costs (~1% of sale price)
When prospective buyers see your home for the first time, you want them to focus on the home’s best features while visualizing themselves living in the space. That’s where staging comes in. Staging involves arranging furniture and decor to make a home as visually appealing to buyers as possible.
According to cost comparison site Fixr, the average cost nationally to hire a professional stager ranges from $2,300 to $3,200. You may save money staging your home yourself, but you’ll have to invest the time to prepare and maintain each room.
If you’re going the do-it-yourself route, consider what you’ll need to purchase. That might include paint, new furniture or light fixtures, curtains, and decorative accessories. You may also want to rent a deep cleaner for carpets, which can cost $35 to $50 per day, or pay for professional carpet cleaning, which can cost $80 to $550 according to HomeAdvisor.
Staging can pay off when you’re ready to sell. In a National Association of Realtors (NAR) survey, 29% of sellers’ agents reported an increase of 1% to 5% in the dollar value offered by buyers. Twenty-one percent reported that staging increased the sellers’ home value by 6% to 10%.
Want to skip the hassle of listing, showings, and months of uncertainty? Learn how selling to Opendoor works.
