How much will I make if I sell my home?
Oh, we love to be asked this question—especially in this sizzling market! So sellers, grab a pen and paper, your smartphone, or just your noggin, and let’s crunch some numbers.
Take your selling price and subtract:
1. Mortgage payoff amount (Heads up! This isn’t the same as your last statement balance.)
2. Real estate commissions (Typically 6%; 3% for buyers agent and 3% for your agent.)
3. Costs to stage and prep your home (Budget 1% of selling price.)
4. Seller concessions (Costs you agree to pay to help close a deal; usually 1.5-2% of selling price.)
5. Moving expenses (Plan for 1% of selling price.)
All said and done, seller expenses average 10% of the selling price. If that sounds high, don’t fret! In this market, home prices are up close to 10% — and that's after a 19% jump in 2021!
Reach out if you have more questions!