How to Save Money When Selling a House
Most people are well aware that you have to spend money to make money in many situations. However, if you’ve decided to sell your home due to financial difficulties or no longer being able to keep up with house-related costs, you likely want to spend as little as possible. While it might seem challenging, it may be easier than you think if you take some of the following steps:
Sell to a Professional Buyer
There are many costs when selling a house through a real estate agency or to another buyer, such as realtor commissions, advertising fees, and closing costs. You might easily spend tens of thousands of dollars even before you receive any money from the sale of your home.
If you don’t have a buffer of funds to fall back on and have no time to waste selling your home, consider selling to a professional buyer. They will take care of most, if not all, sales-related costs, including back taxes, to save you the stress of having to find money you don’t have.
Don’t Spend Money On Costly Upgrades
One of the best ways to increase the value in your home is by undertaking remodeling tasks, such as a bathroom or kitchen upgrade. While a renovation can be how you make more money, they can also cost a lot.
If you’re trying to save as much money upfront as possible, leave such tasks to the new buyers. There’s a good chance they will want to add their own stamp with renovations, anyway. If you’re selling to a professional home buyer, you can sell your property as-is, with no need to make any changes.
Go Down the DIY Route
If you don’t mind getting dirty, going down the DIY route for any minor changes you make before a sale can be how you save a considerable sum of money. For example, rather than hiring a landscaper, you can take care of the gardens yourself.
Some people find it convenient to hire a cleaner before open homes or when their property sells, but you may save several hundred dollars by tackling this task yourself. Some buyers, such as those that buy and sell houses for a living, may not mind whether you garden or clean at all.
Even if you’re selling through more traditional means like a realtor, you may be able to make small, affordable changes that make a considerable difference. For example, you might be able to purchase discounted paint then give your fence a facelift at a fraction of the cost of hiring someone to do it for you.
Avoid Costly Advertising Mediums
It’s only natural to believe you have to spend a fortune on advertising to give your property as much exposure as possible, but that’s not necessarily true. Savings can be made by being wiser with your advertising.
If you’re selling your home yourself, use social media to your advantage. Create a page for your property, build campaign ads, and set a budget you can afford. You might also be able to secure affordable ad deals on websites and even in your local newspaper. Even word of mouth is a cost-effective way of getting as much exposure as possible.
As costly as selling a house can be, it doesn’t have to be. By being careful with your purchases, not making significant changes, and selling directly to a home buyer, you might save yourself thousands of dollars.