Selling your home can be an expensive exercise so it’s important to assess your budget so you can be realistic about the outgoings and plan ahead.
While some costs will be unavoidable, others are optional so be decisive about what you want to pay and how the cost might benefit the marketing and sale of your home.
Being aware of upfront expenses can be helpful when it comes to budgeting and to minimise the chance of being caught off-guard during the process.
Here’s what you can expect to pay if you’re looking to sell your home:
Conveyancing and legal fees: $1500 to $3000
Selling a property is a legal process and requires a legal mind to navigate the ins and outs of what can sometimes be a complicated process. A conveyancer or lawyer can help ensure the process runs smoothly. As part of the sales process and settlement, you will also need to fund building and pest inspections, as well as an energy efficiency rating (EER) report.
Photography and digital marketing: $500 to $5000
As the old adage goes ‘a picture speaks a thousand words’ so investing in beautiful photos and smart digital marketing will help your property shine. Professional photography coupled with is a smart move as the images will be used to advertise your home on real estate portals, the MARQ website, print media and online.
Digital marketing is one of the most powerful tools to attract buyers to your home. Digital campaigns can be tailored to a specific area or buyer too.
Renovation and cosmetic repairs: Varies depending on property
Taking time to see to maintenance before you list your property for sale means your property will be at its best when you take it to market. A property inspection report will be viewed by buyers so its important to fix noticeable issues so you don’t have to worry about negotiating fixes for issues with a potential buyer.
As well as engaging the right real estate agent and knowing the ins-and-outs of the property market, offering your home for sale at its best is critical to maximising the selling sum.
Stylist to stage your home: $1500 to $5000
If you want to do everything you can to attract the best possible sales price, investigate the value of staging your home by an expert. Investing in professionally styling a property can be a wise move that can add between 5% and 10% to the final sales price.
Marketing and promotion of your property: 0.5% to 1% of the sale price
Customised marketing and promotion of your home is vital to ensure the property reaches the greatest number of interested buyers. The greater the buyer pool, the greater likelihood you have of a competitive sale and ultimately achieving the highest price.