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What are the hidden costs of selling a house in 2021?

Selling a house costs money. These can include hidden costs. From conveyancing costs to marketing expenses; some of these costs are unavoidable, while some are voluntary. However, most sellers aren’t aware of exactly how much it costs.

Costs associated with selling a house can include:

  • Agent’s fees
  • Marketing fees
  • Search costs
  • Discharge of mortgage
  • After settlement rates and taxes
  • Conveyancer’s fees
  • Moving costs

If you are using a real estate agent, you are probably prepared to pay your agent’s commissions.

Hidden Costs when selling a house

Voluntary costs when selling a house are also called ‘hidden costs.’ These usually include costs you pay to prepare your property for sale. These can include:

  • Cleaning
  • House Repairs & Painting
  • Renovations
  • Garden Maintenance
  • Home Staging

Cleaning

The cost for cleaning your house can vary depending on several factors:

  • Type of house (eg. apartment, house)
  • Number of rooms
  • Tasks needed to be done
  • How much work is involved for the cleaner

Booking a professional cleaner may cost a few hundred dollars, but will save you time and stress in the long run.

Man and woman using white paint to paint a wall
Photo by Blue Bird

House Repairs and Painting

House repairs or maintenance is important before you put your house on the market. From rusty gutters or chipped paint, potential buyers will notice this in your home and may not make an offer. If they do, it will not be as high as perhaps you were hoping.

By performing some cost-effective repairs and maintenance to your house, you can significantly increase the value of your house.

The cost of maintenance will depend on what needs to be done but your real estate agent can advise you on what is urgent or what can be left to the new owners.

Photo by Curtis Adams

Renovations

A kitchen or bathroom renovation are expensive but can add tens of thousands of dollars to your house’s value.

Buyers want a clean, functioning kitchen they can move straight into. By opting for less expensive finishes such as laminate and using mid-range appliance brands, you can improve the appearance of your kitchen without breaking the bank.

Small cosmetic improvements in your bathroom such as replacing the vanity and fixtures can increase the value of your property.

Source: openagent.com.au

Garden Maintenance

Landscaping is an easy and inexpensive way to add up to 28% to the overall value of your home. Adding new plants, stones or mulch can cover any bald spots in your garden, and weeding and general maintenance will give your house its much-needed curb appeal for sale.

Don’t forget your backyard too.

Home Staging bed with multiple pillows, hanging lights and a photo hanging on the wall.
Photo by Perth Style Co.

Home Staging

Home staging (aka home styling) helps potential buyers visualise what it would be like to live in your home. Using interior design and styling techniques, to improve the value of your home.

Perth Style Co-director, Sara James, says some of the company’s staged properties selling in January 2021, from $100,000 to $500,000 higher than their listing prices.

Sell smarter with VPACollect

All these costs may seem overwhelming but VPACollect can help you advertise on your terms.

VPACollect cover up to $30,000 of listing costs to give you the best possible outcome when you sell your home. Their funds can be used for marketing, improvements, repairs, staging and generally anything to enhance your property for its sales campaign.

The process is easy: list your home with your chosen agent and they complete the VPACollect request form on their website. VPACollect provides the funds needed to start your sales campaign. You repay VPA Collect at settlement or prior, it’s your choice.

Contact Realty Assist for VPACollect services now on 1300 355 729, visit www.vpacollect.com.au or email [email protected].

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