Understanding the Hidden Costs of Selling a Home
AuthorAmanda Dodge. Date:
Selling your home is an opportunity to begin the next chapter of your life, whether you’re moving to a new state or upgrading to a larger house to start your family. Your home’s value may have appreciated during the years you’ve lived there, which means you’ll turn a profit when you sell. However, many homeowners are surprised by the costs and fees that come with selling, which reduce their total proceeds. Experts recommend allocating 10% of the home’s sale price to commissions, repair costs, and other fees. With the median home price currently at $416,900, property owners can expect to pay around $41,000 to sell their homes. There are also concerns about agent commissions following the August 2024 NAR settlement, which means it’s more important than ever to understand all of your selling costs upfront. Use this guide to discover the hidden costs of selling a home and how to … Continued
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