The Financial Fairy Tales Blog

Most people, when selling their homes, are so focused on the money they are (hopefully) about to make, that they spend very little time thinking about all of the costs associated with doing so, and how they may be able to save a little money there.

Selling a house can be an expensive business, but if you’re sensible, you can make some serious savings.

Choose your estate agent wisely

Probably, the biggest way to save money when you are selling your home is to choose a great estate agent like Jordan & Halstead, for example, who are very affordable in your local area, as well as being good at their jobs, so that they can maximize the price you get for your home. 

That’s why you should take your time to check out local estate agents before making a choice, instead of just going with the first one you find. A lot of estate agents will tell you exactly what you want to hear and promise you things that just aren’t possible, all while charging a premium, If it sounds too good to be true, it probably is; find the sweet spot where price and reputation meet and stick with that.

Don’t do too much work

Many homeowners will try to maximise the return on their homes by renovating them before selling. Sometimes, this can work well because things like a new kitchen can add value to your home, but the thing is, this doesn’t always work, and unless you know what you are doing and have totally studied the local market, you probably shouldn’t make more than a few cosmetic changes and necessary DIY jobs. If you do what to carry out a bigger renovation, research how much value it is likely to add to your home, and if that figure is less than the cost, don’t get the work done.

Keep your emotions in check

So many homeowners have settled for a lower price simply because their emotions have gotten the better of them and they haven’t wanted to sell to a particular buyer, perhaps because they feel like they won’t look after the home or that the home is not right for them, and although this is totally understandable, it is not very sensible. If you get a good offer, not taking it is only going to cost you money in terms of the extra time and effort that will have to go into finding another buyer, not to mention the fact there’s no guarantee you will get a similarly large offer next time. Selling your home is a financial transaction and the more you can remind yourself of that the better.

Saving money when selling your home can be difficult because there are many costs that cannot be avoided, but it is, as you can see, still possible to cut costs and maximise your returns here and there. Stay calm, look fairly at the finances and don’t be too rash during the process and there’s every chance you’ll save.