The hidden costs of selling your home

Posted on November 30, 2021

If you’re considering selling your home, there is a long list of factors to consider. As well as deciphering whether now is the best time to sell and buy your next property, and considering if your property is ready for sale, the costs and fees that go hand-in-hand with selling have to be budgeted for.

Whether you’re a first time seller or you’ve had experience selling property before, you may find that selling your home comes with several hidden costs. As a leading independent estate agency with some 12 years of experience helping clients buy, sell, rent and let throughout the Sunderland area, we pride ourselves on delivering a knowledgeable and transparent service.

In this blog post, we share the hidden costs of selling your home so you know exactly how to budget for your property sale.

Estate agent

If you plan to use an estate agent to help sell your property, it’s important to understand their fees upfront. Most charge a percentage fee of the agreed selling price, whilst others charge a set fee. Use your initial valuation with your shortlisted estate agents to discuss costs and the benefits of selling with them.

Conveyancer

Every property purchase and sale should be overseen by a solicitor or legal conveyancer, and this will have to be factored into your budget.

Like estate agent fees, the final cost for conveyancing is often determined by the sale value of the property. A solicitor or conveyancer may charge less if they are handling the sale of your property and the purchase of your next home.

EPC

The energy efficiency of your property matters now more than ever. Legally you have to provide a valid Energy Performance Certificate (EPC) to communicate the energy efficient rating of your home to any would-be buyers, and this comes at a cost.

Mortgage exit

If you need to exit your current mortgage deal in order to sell your home, you may be liable for an exit fee or early repayment charge. This is especially true if you have a fixed rate product.

House removals

The cost of moving home is often a lot more expensive than people think, a fact that means many forget to budget for it. Using a professional removals company will set you back quite a lot of money, but the convenience of such a service makes the big move far less stressful.

If your budget is tight, why not consider hiring a van to transport your belongings to your new home more affordably?

Here at Hackett Property, our sales team take the hassle out of selling your home. For further information on our property sales service, please contact us today.