7 Ways To Save On Costs When Selling Your Home

7 Ways To Save On Costs When Selling Your Home

Selling your home can be a stressful experience. It seems like there is so much to do until you finally get the deal finalized. Selling your home can also be costly; therefore, you need to know some ways to save money during the process of selling your home.

Price Your Home Correctly

Many people think that if you price your home high, you can negotiate to get a good price. However, if it’s priced too high it’ll stay on the market for too long and you won’t get any offers. This lowers the value of the property and might send a red flag for potential buyers.

If you price it right the first time, more people will be interested in purchasing it. Compare other homes in your neighborhood that are selling. Then price your home comparably.

Negotiate Fees

Sellers have a list of fees that they will be required to pay. The person buying the home might request additional inspections be conducted on the property. Or, they might ask for the seller to pay the closing costs.

You can negotiate these fees. To compensate, consider not budging on the sale price. This strategy can save you money.

Sell It Yourself

Real estate agents charge a hefty commission on the sale price of your home. 6% may not sound like much, but that could be tens of thousands of dollars that are coming out of your pocket. You can try selling your home on your own instead.

This way, you control what happens without having to go with someone else’s ideas. You can advertise the home on social media, local publications or by distributing fliers in the neighborhood. Take pictures of your home and write your own description of the property.

Prepare Your Home

You will sell your home faster if you make the necessary repairs to make the home look nice. You do not need to spend an excessive amount of money for these repairs.

Make the repairs yourself rather than hiring an expert. You also need to pick and choose which repairs you tackle. Decide what is worth it, and what is not. Experts say not to spend much time on the bathrooms. The home needs to very clean, and the carpets need to be clean.

Close Toward The End Of The Month

You will save money on interest charges if you  close closer to the end of the month rather than the first of the month. When you close a home, you will pay interest from the closing date to the end of the month. If there are less days remaining in the month, you will pay less money on interest.

Keep in mind that you do not want to wait until the last day of the month. Give yourself some cushion. If you schedule for the last week of the month, any delay could push the closing to the beginning of the next month. Therefore, you need to have some wiggle room.

Use Social Media

You can post things about your home on Facebook, Twitter, etc. Use Snapchat to post pictures of your home. You can promote the home yourself even if you’re already employing the services of a realtor.

Get Help From Family And Friends

Moving out of your house can be expensive. You hire a moving company, and you pay for boxes and other things you will need. You can save money by hiring people you know to help you move.

Get someone who has a truck or van, and have your friends help you pack up your things. Remember the little savings really add up.

Selling your home does not have to cost you a fortune. It is possible to save a considerable amount of money. Therefore, look at your options, and watch the savings add up.

Anum Yoon is the founder and editor of Current on Currency. She loves all things personal finance, which is why you'll find her work all over the PF blogosphere.

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