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Running the Numbers for Selling Your Home in Dallas

by Apr 30, 2020

Dallas is a real estate market that has seen an increase of about 2.3% in the home values, bringing the median home value up to $224,772. However, just because you could see a significant profit in selling your home, that doesn’t mean you will get what you hoped for when selling your house. There are many costs associated with selling your house that can easily cut into your profits. By reading on, you can learn all about some of these costs of selling your home that you may not have considered.

Home Repairs

In most cases, you probably have something that you need to fix up before you sell your house to increase the likelihood of selling it. Unfortunately, the problem with repairs is that as soon as you start fixing one problem, you may find three more. You never know what unknowns you will find the minute you start opening walls. You may think that the leaky pipe you have been ignoring will turn out to have created even more expensive water damage that needs to be fixed. But, you can’t ignore doing necessary repairs either because if the potential buyer notices anything wrong or gets back an inspection report with necessary maintenance, they will negotiate down to a lower price.

Staging and Other Preparation Costs

Is your home ready for open houses? If the furniture is too big for the space in your home, it can make the room look small. This issue is where staging comes in. When you pay for this service, they will ensure that your house looks as inviting as possible. You will also need to store your pictures and other items away so that potential buyers can picture themselves in the home. Storage fees, staging fees, and other things like cleaning and landscaping can make your house look great, but it can be costly and eat into your profits. 

Marketing Costs

You may associate marketing costs with a sales business, but selling your home requires the same amount of effort if you want it sold as quickly as possible, which is why you spend money on marketing costs. Depending on the realtor that you decide on, you may get full-service care, or you may need to front your own money for marketing costs. These costs include premium listings, professional photography, and items like brochures about the house that get handed out at open houses.

Conclusion

When you are selling your home, there are plenty of costs that you probably don’t consider. The problem with these costs is that you may not get a significant return on your investment for them, especially for those costly repairs that can’t be seen. If you don’t spend the money on these things, you may not be able to get the amount of money that you hoped for your home. These are only a few of the numbers that you need to consider when you decide to sell your house in Dallas.