While selling a house is a great chance to earn some extra money, you may end up losing more than expected. The costs for selling a house include real estate commission, home repairs, pre-sale home inspection, home staging, and utilities, especially if you move without selling the house first.

Other costs include mortgage payoff, closing costs and additional fees, capital gains tax, and property tax. Here are ways to save money when selling your house.

1. Sell your house to a home buyer

Homebuyers like Avante Home Buyers  buy houses for cash. When selling your house to them, you sell it as is, and you don’t have to renovate. Considering that no real estate agents are involved, you save on commission. Selling your home to a cash buyer doesn’t need any marketing or listing, saving you money. Additionally, you don’t have to incur costs staging your home or preparing for showings. You don’t even have to pay the closing costs involved in selling a house. Dealing with a home buyer not only sells your home fast, but it saves you money too.

2. Negotiate for a lower commission

When you hire a real estate agent to sell your house, you’ll pay them a commission of 5% to 6%. Consider negotiating for a lower commission and ensure the reduction doesn’t result in substandard services. You can also use discount brokerages within your locality for reduced commissions.

3. Make cost-effective renovations

Before making any major home upgrades, consider discussing it with an appraiser or a real estate agent. This is because not all home renovations lead to returns on investment once the house sells. Focus on quick and simple fixes that improve your home’s appeal and increase its value. You may consider landscaping, adding wood floors, repainting, decluttering, and deep cleaning. These renovations reduce your home’s wear and tear appearance, positively impacting its value.

4. Take advantage of the seller’s market

A seller’s market occurs when the demand for homes is higher than the supply. You may use the seller’s market to your advantage by asking for more than just a higher amount for your home. Since home shortages give an upper hand, you easily negotiate for reduced real estate commissions, low closing fees, and other costs related to your home sale, saving you money.

5. Leverage the sale-by-owner (FSBO) option

Considering that a good share of your profit goes to the real estate agents, you can choose to sell it alone. Selling your house yourself saves you money since you don’t have to pay any commission. However, you have to do all the marketing and prepare a listing that sells if you want your house listed.

6. Use a flat fee or discount agent

Thanks to technological advancements, flat fees and discount agents like Zillow have cropped up. With the help of these agents, you can get full services at a discounted rate. Since technology allows these agents to reach more clients, they charge a lower fee for their services.

Endnote

Selling a home can be costly, but you still find ways to save. Use the above tips to save money when selling your house.