Planning to sell your home and curious about the expenses involved? Preparing for these costs is essential for a successful sale. From agent commissions to marketing expenses, here's a breakdown to help you get a clearer picture:
1. Real Estate Agent Commission 💼
Your agent's fee is a significant component. Commissions vary between 1.6% - 4% of the property's sale price, roughly around $11,200 - $28,000 on a $700,000 property. Shop around for competitive rates and explore different payment structures.
2. Conveyancer's Fees 📜
For a smooth property transfer, you'll need a conveyancer or solicitor. Costs range from $500-$1,400, with complexity influencing the price. More intricate transactions might go up to $2,200, still generally lower than solicitor charges.
3. Mortgage Discharge Fees 💰
Ending your mortgage may incur discharge fees ($150 - $400) along with potential legal and administrative costs. Some states add government fees to this. Ensure a smooth transition from your lender.
4. Moving Costs 📦
Post-sale, you'll need to relocate your belongings. Expect local removalist charges of $130 - $200 per hour, accounting for service quality, distance, and day of the week. Additional expenses like transport and insurance might apply.
5. Pre-Sale Repairs 🏡
Investing in pre-sale repairs can boost your property's value. Budget for painting ($300 - $600 per room), carpet cleaning ($25 - $100 per room), and garden services ($45 - $120 per hour). These enhancements can make a significant impact.
6. Kitchen & Bathroom Updates 🛁
Renovating your kitchen or bathroom can add appeal. Depending on the extent, bathroom overhauls range from $8,000 - $35,000, while full kitchen makeovers range from $20,000 - $40,000.
7. Home Staging 🎨
Professional home staging can enhance your property's presentation. Costs vary with property size, from $2,500 for a two-bedroom apartment to $10,000 for an extensively styled four-bedroom house. Staging can potentially increase your sale price by up to 10%.
8. Auctioneer Fees 🔨
If auctioning your property, consider an auctioneer's fee ($400 - $1000). Experienced auctioneers may cost more. Remember to market your property well to attract potential buyers to the auction.
9. Marketing & Advertising 📣
Marketing expenses aim to maximize exposure and competition. Costs range from $600 to $10,000 for a comprehensive marketing package. Platforms like realestate.com.au and Domain, photography, videos, and virtual tours contribute to a successful campaign.
Preparedness is key to a successful sale. Reach out if you’d like recommendation on a great Selling agent.
Adam Davis
Principal Buyers Agent
Adam Davis Buyers Agent
0419 552 092
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