Wondering what the costs with selling a house in Brisbane would be if you went to the market today?
Brisbane house prices are up since the pandemic and now is a good time to take advantage of your property’s increased value.
House selling costs are an important consideration as you don’t want any nasty surprises during the selling process or at settlement.
We’re covering the major expenses including fees, marketing and settlement costs along with a few, often missed, that most people overlook that could severely increase your out-of-pocket expenses and leave a big hole in your bank account.
Let’s dive in with fees
Fees with selling a house
Real estate agent fees – $10,000+
The first cost you will need to consider when selling your house is the real estate agent fees. These fees can vary depending on the agent you use and the services they provide, but they typically range from 2.0-3.5% of the final sale price of your home.
Some people baulk at this fee thinking agents get paid money for jam. Not so says Peter Hutton, CEO, Hutton and Hutton
“You are investing in the experience of the agent and the value they will bring when selling your house. Many have decades of experience and have negotiated hundreds if not thousands of home sales.
Agents only get paid once a property is sold and settled. Imagine if your agent gets you an extra $50,000 above your dream selling price. Would you pay $1000 – $1500 to get an extra $50,000?”
Read our earlier article on the 15 ways to sell a property here.
Marketing costs with selling a house
Maintenance and repair costs
Before listing your house for sale, it is also important to consider any maintenance or repair costs that may be necessary. These costs can vary depending on the condition of your home and what needs to be done, but they can add up quickly if you are not prepared for them.
Painting – $2000+
Painting your home either inside or out will improve the value of the property. A fresh coat of paint will lift the vibe of the house and usually bring a higher selling price.
Depending on what needs to be done, budget $2000 – $20,000 but don’t go overboard. Keep your colour scheme on trend or neutral. Buyers may be looking for an opportunity to add their own flare to their new home.
Home staging – $2000 – $5000
Home staging is a great way to showcase the selling points of your home, boost its appeal and increase the chance of getting a higher selling price.
Home staging usually costs around $2,000 – $5,000 depending on how much furniture you need and the length of time it needs to be in place.
Chat with the in-house styling team at Hutton and Hutton about home staging.
Small repairs – $100 – $500
Need to repair a fence. fill a few holes, replace some light bulbs or repair a few cracked tiles?
Do these before you go to market. Buyers usually don’t want to see extra expense when inspecting a home. To them, the costs will be much higher than if you were to do them before they become an issue.
Lawnmowing, gardens and pool clean – $50 – $500
Nothing looks more inviting than a freshly cut lawn as you enter a property. Top that off with a well-maintained, flourishing garden with in-season blooms and a crystal-clear pool, then you’ll have all the senses popping.
In-home freshener – $5 – $35
Nothing turns buyers off more than stale cigarette smoke, overflowing, smelly kitchen bins or damp pet odour.
Use a neutral room refresher (orange or lemon mist) or a bouquet at your open home.
Cleaning costs – $250 – $400
When selling your house, it is important to present it in the best possible light. This often means hiring a professional cleaner to clean your house before potential buyers view it.
The cost of professional cleaning services can vary depending on the size of your house and the level of cleaning required, but it is important to factor this cost into your budget.
You should also budget for cleaning when you move out.
Advertising costs – $500 – $5000
Another cost you will need to factor in is advertising, both online and offline.
REA and Domain are the biggest real estate portals. To have a property featured on these sites so that it can be found by the right buyers, a prominent position is needed.
Think about how you search on Google. You don’t search past the page. Neither will buyers on REA or Domain. Get upfront and be seen.
Brochures, flyers and signage are important in finding the right buyer. A collective package starts from $500.
Costs with selling a house once it is sold
Legal fees – $1000 – $2500
If you use a solicitor or conveyancer to handle the legal aspects of selling your house, you will need to factor their fees into your budget as well.
These fees can range from a few hundred dollars to a few thousand dollars, so it is important to get an estimate from your chosen legal professional before proceeding with the sale.
Removalist costs – $1000 – $3000
If you plan on moving out of your house before it is sold, you will need to factor in the cost of hiring a removalist. These costs can vary depending on the size of your home and the distance you are moving
Storage costs $300 – $600
If you plan on moving out of your house before it is sold, you may also need to factor in storage costs. These costs will depend on the size of your home and how long you need to store your belongings.
Selling a home in Brisbane can seem like a daunting task without knowing the potential costs you need to budget for.
While determining these costs can be complex, it is crucial information you must consider before selling your property. Real estate agent fees, maintenance and repair fees, painting, small repairs and home staging are just some of the costs to keep in mind while selling your house in Brisbane.
Additionally, lawn mowing and cleaning before opening homes will help to make a great impression on buyers; however, it’s important to factor in this cost when calculating your budget.
It’s clear there are multiple costs associated with selling a house in Brisbane; however understanding what is needed upfront can ultimately save time and money further down the track.
There are financial institutions that can help you fund the costs with selling a house in the short term for a small fee.
For example, the H & H team can help you instantly access $35,000 to spend on marketing, styling, repairs, home improvements and more, with nothing to pay until your property settles.
For more information about marketing and real estate in Brisbane or to find out how we can help you sell for the best price possible, please chat with our team today.