homeowners spent an average of $6,570 getting their homes prepped for selling. Minor repairsĮven if you're not planning on making any sweeping changes to your home to get it ready for listing, there are always touch-ups and minor repairs that need to be done so your home can attract buyers that will pay your desired asking price. Whether you're doing a DIY move (and paying for boxes, storage and a rental truck) or a full-service, cross-country move with a professional moving company, everyone pays moving costs in one way or another. You can cut back on some of these expenses by using a discount broker, but you'll have to do much more of the work yourself. If you're selling with a full-service listing agent, and if your buyer is using their own agent, be prepared to pay 6 percent of your sale price in agent commission. Keep in mind the following common expenses. Most sellers are focused on the profit they’ll make when they sell, and they sometimes overlook all of the expenses related to selling. To find out the more affordable option for you, make sure to consider all possible expenses in order to make an accurate side-by-side comparison. For others, it makes more financial sense to renovate the house they already have. You'll incur costs no matter which path you decide to take, and what makes sense for you might not make sense for another homeowner. Determine whether remodeling or moving is more cost-effective But, if you're trying to make the decision for yourself, follow these five key steps. So, settling the remodel-versus-sell debate always varies, depending on who you ask. According to Zillow research, 76 percent of Americans surveyed would rather use a set amount of money to upgrade their home to meet their needs rather than use it as a down payment on a new home.Įveryone's home, budget, real estate market and priorities are different. With low inventory nationwide, more homeowners are renovating their current homes instead of moving. No home is perfect! But when you're asking yourself that question, you're really asking: Can my dislikes be changed with a remodel? Would that make financial sense? Is remodeling worth the hassle? If you're asking yourself if you should remodel your home or just move on to a new one, there are probably a few things about your home you don't love - and that's no surprise.
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