Hidden Charges You May Have For Your First Home

May 14, 2020

Selling your house is often a decision you don’t take lightly. This usually happens when you have lived there for quite some time. You create so many memories, and each room now has a story of its own. However, you may find yourself in a situation that requires you to…

Written By Offer Hut

Selling your house is often a decision you don’t take lightly. This usually happens when you have lived there for quite some time. You create so many memories, and each room now has a story of its own.

However, you may find yourself in a situation that requires you to sell your house because you are changing jobs and need to move or you need to cover your hospital bills. Selling a home for the first time can seem daunting, and you need a plethora of information to ensure everything goes smoothly.

 

I say this because I vividly remember my experience when I wanted to sell my house fast a few months back. Some of the things to consider are real estate agent costs, home renovations, and the housing market.

Understanding the housing market is critical in determining whether the market is on the seller’s side. I sold mine in Spring at a time when the market was balanced. This is a tip for you when you want to sell your house fast in NC.

 

Traditionally, most homes in North Carolina have appreciated at a value of 6 percent annually, but things might be different this year due to the Corona pandemic. Businesses have had to close temporarily, and we all know that the real estate business is an offline business; therefore, it’s going to be challenging to sell your house at this time.

 

Not to worry because once everything goes back to normal, this guide will have gotten you fully prepped to sell your house fast.

Selling a house can be a costly affair, and so many people end up discovering this a little too late, and it ends up affecting their sale. In this article, I list down some of the hidden charges you may encounter when selling your first home.

 

House Repairs

We all know that first impressions matter a lot, so you shouldn’t ignore all the things that need fixing as they could scare away potential buyers. Most people tend to focus on the repairs, which include rusty pipes, leaky faucets, and squeaky doors.

Today, buyers are looking for more than just functionality—the aesthetics of a home play a role in getting your house to sell fast. I remember having to knock down a wall when I was preparing to sell my house. In the end, I had to spend a lot on renovations. You better keep that in mind before selling your home.

 

Outdoor Maintenance

Some buyers are not only keen on the house but also outdoor appeal. You need to put yourself in their shoes and ask yourself if the roles were reversed, whether you would be willing to buy the home.

If the answer is no, then you know that you will need to clean out your garden. This will entail pruning, weeding a well as planting flowers. In my case, I had to hire a company that offers gardening services. Gardening costs around 50 dollars, depending on the size of the property as well as location. I remember paying close to 200 dollars for complete lawn care services.

 

I was hesitant at first because I didn’t think it was crucial to make outdoor changes, not until the actual buyer mentioned it during the closing, and that’s how I knew how I was able to sell my house fast.

 

Staging Costs

Potential buyers will want to visualize how their life would be in the house that you are trying to sell. You, therefore, need to anticipate a list of critical attributes that buyers could be looking for. Unless you have been keeping up with the real estate market, it’s going to be challenging to stage your house before house viewing.

Hiring a staging company pays off because they can create the illusion of a spacious house as well as enhance your property’s best features. Though the staging costs vary, most stagers charge up to 1500 US dollars for most homes in North Carolina.

 

Storage Costs

The preparation for your open house viewing may require that you de-clutter your home. It is during that moment that you begin to wonder why you bought so much furniture because now it seems like such a hassle.

De-cluttering your house is non-negotiable, so you need to find out storage facilities near where you live. The storage costs will depend on how much stuff you need to store as well as the location.

 

Marketing costs

Marketing your house in this day and age needs to employ innovative approaches, especially when it comes to online marketing. You may be tempted to take regular photos of your house using your smartphone, thinking that marketing is not meaningful.

 

You should avoid making this mistake if you are planning on selling your house fast. You need to hire a videographer who will not only take photos but also take a 3600 of your home to make it more appealing to potential buyers.

 

I remember paying close to 200 US dollars for a videographer. I believe that it helped me sell my house because the online advertisements got potential buyers to come to the open house viewing.

 

Capital Gains Tax

I only found out about the capital gains tax when I wanted to sell my house. Did you know that you need to pay this when you sell your home for a higher amount than you paid for it? You will need an accountant to help you figure out the correct amount.Paying this tax is not as bad as it may sound. This is because you are allowed to exclude up to 500,000 US dollars from the tax gain just as long as you haven’t used up your tax break on a different home sale within the first twenty-four months.

 

Compliance Certificates

Some states require sellers to pay for the compliance certificates before transferring ownership to buyers. You may have to pay for retrofitting to strengthen your house against earthquakes. Additionally, as a seller, you must provide and cover the costs of gas, electrical, and plumbing compliance certificates.

 

Finally, due to the shift towards renewable energy, to help combat climate change, you could go out of your way to acquire an energy efficiency certificate as it could help you sell your house fast in North Carolina.

 

 

Testimonial

What our clients are saying

Sarah D. (Durham, NC)

“The Sell Triangle team really knows their stuff. As a seller in a difficult situation, I was able to not only get a great cash offer for my home, but we were able to close in just a few weeks! I would highly recommend this company for anyone trying to sell their house fast.”

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