How Much Does It Cost to Sell My House?

If you're considering selling your home, you're probably wondering how much it'll cost. While the total expenses will vary depending on factors like the offer you accept, whether you cover some of the buyer’s closing costs, and any repairs you decide to make, here’s a general guide to help you prepare for what’s ahead. (see graph below):

Before we dive into the details, here’s some good news: many homeowners today have built up significant equity in their homes. This equity can often offset some or even all of the selling costs, and in many cases, there’s enough left over to help fund the purchase of your next home.

Let’s explore some of the common costs associated with selling your house and where you might be able to save along the way.

Closing Costs and Commission

At closing, you’ll be responsible for certain fees that cover the sale’s completion. These include your own closing costs, and you might also offer to cover some of the buyer’s expenses as an incentive.

As U.S. News Real Estate explains:

“Closing costs are fees that are paid to finalize the transaction and transfer ownership of the home to the buyer. Sellers can expect to pay 2% to 4% of the sale price of the home in fees and taxes on top of the agent commission.”

For example, based on the national median home sale price, closing costs in 2023 range from $7,740 to $15,480. Keep in mind that these figures can vary depending on state taxes and the commission agreed upon with your real estate agent. Additionally, if you’ve been making escrow payments for taxes and insurance, you may receive a credit at closing, which can help offset some of these costs.

Pre-Listing Inspection and Repairs

A pre-listing inspection is an optional step that can give you a heads-up on issues that might surface during the buyer’s inspection. This allows you to make any necessary repairs ahead of time, which could prevent buyers from asking for concessions later.

However, if you prefer to skip this, your agent can provide advice on what minor fixes or cosmetic upgrades would yield the most return on investment, helping your house make a strong first impression.

Home Staging

In today’s competitive market, staging your home can make a big difference. Whether it involves bringing in rental furniture for a vacant home or adding décor to enhance the space, staging helps buyers envision themselves living in your home.

Bankrate estimates the cost of home staging typically ranges from $782 to $2,817, though the price can vary. If you choose not to hire a stager, your real estate agent can offer tips on decluttering and rearranging furniture to make your home feel more spacious and inviting.

The Importance of Working with a Real Estate Agent

If you're looking to save money, it’s important to be strategic about where you cut costs. While you might opt out of optional expenses like staging or a pre-listing inspection, skimping on hiring a real estate agent can backfire.

A great agent is invaluable—they offer tailored advice on pricing, marketing, and negotiating, helping you get the best return on your investment. Plus, their expertise in showcasing your home’s best features can actually help increase the final sale price.

Bottom Line

Curious about how much it’ll cost to sell your house? Let’s talk! We can walk through the specifics based on your home and help you understand what to expect so you can sell confidently.