Selling a home in Kansas City involves more than just finding a buyer and closing the deal. There are numerous hidden costs, chores, and preparations required to get your home market-ready. Whether you choose to list your property with a real estate agent or sell directly, understanding these costs is crucial. Here’s a comprehensive look at what you can expect.
Hidden Costs When Selling Your Home
Commissions and Fees
Realtor Commissions: When listing your home with a Realtor, you’re generally looking at a commission fee of around 6% of the sale price. This fee is usually split between your agent and the buyer’s agent. But this isn’t the only cost you should consider.
Broker Fees: Some brokerages might charge a flat fee, such as $500, in addition to the commission. Others might offer lower commission rates but add extra fees for administrative staff, typically ranging from $300 to $500.
Additional Costs: Be prepared for other transaction-related fees. These can include marketing fees, administrative charges, and closing costs. Always clarify these fees with your agent to avoid unexpected expenses.
Marketing and Staging
Professional Photography and Staging: To make your home stand out, professional photography and staging are often necessary. Expect to pay around $200 for high-quality photos and between $300 and $800 for a Matterport Virtual Tour. Staging consultations can cost $300 to $600, with additional staging fees of $500 to $600 per month per room.
Repairs and Cleaning: Ensure your home is in excellent condition before listing. This includes making any necessary repairs and conducting a thorough cleaning. Deep cleaning involves washing windows, cleaning blinds, and scrubbing grout and tile. If you have pets, you may need to address pet odors and consider replacing carpets if they’re stained.
Decluttering and Cleaning
Decluttering: A clean and decluttered home is essential for a successful sale. Remove personal items, excess furniture, and knick-knacks that could distract buyers. If you’ve lived in your home for a long time, it’s time for a clean slate. Box up personal items and consider donating or selling those you don’t need.
Deep Cleaning: Beyond basic cleaning, a deep clean is necessary. This includes tackling often-overlooked areas such as baseboards, crown molding, window sills, and ceiling fans. For tough stains and odors, professional cleaning services might be worth the investment.
Landscaping and Curb Appeal
Yard Work: Your home’s exterior is just as important as the interior. Ensure your yard is well-maintained with trimmed bushes, weeded lawns, and fresh flowers. For vacant properties, consider low-maintenance options like decorative rocks or seasonal displays.
Repairs and Upgrades: Address any exterior repairs or upgrades needed to enhance curb appeal. Fresh paint on outdoor trim, fixing broken fixtures, and adding welcoming elements like outdoor seating can make a significant difference.
Moving and Storage
Moving Costs: Once your home is sold, moving can be a major expense. Decide whether you’ll hire movers, rent a truck, or handle packing yourself. Don’t forget to factor in storage costs if you need a place to keep your belongings until your new home is ready.
Temporary Living Expenses: If you’re moving to a temporary residence while waiting for your new home, remember to budget for both rent and utility bills for both properties.
Closing Costs
What to Expect: Closing costs typically range from $1,000 to $3,000, depending on your home’s sale price. These costs include title fees, filing fees, and prorated taxes. Consult with a local title company for a more accurate estimate based on your home’s specifics.
Alternatives to Traditional Selling
If the traditional selling process seems overwhelming, consider selling your home directly to an investor. This option can save you from many of the costs and hassles associated with listing your property.
Benefits of Selling Directly:
- No Commission Fees: Avoid paying agent commissions.
- No Repair Costs: Sell your home as-is, without making repairs.
- Quick Sale: Receive a firm offer and close the deal faster, often within 15 days.
If you’re interested in exploring this option and seeing how much you could save, reach out to us. We can help you evaluate your options and find the best solution for your situation.
Conclusion
Selling a home in Kansas City involves various costs and tasks, whether you’re listing it with a Realtor or selling directly. Understanding these expenses and preparing accordingly can help you make informed decisions and potentially save money. If you have any questions or need assistance with selling your home, feel free to contact us!
