Are you getting ready to sell your house in Kansas City, MO? If so, you are likely to discover that selling a house the traditional way can cost you thousands of dollars. You may spend a considerable amount of cash on realtor commissions, closing costs, repairs & renovations, and staging your house.
On average, the expenses eat into roughly 15 percent of your selling price, leaving you with a substantially lower profit. There are other alternatives to selling your house, such as a for sale by owner (FSBO). You can also sell your house fast in Kansas City by working with a local house buyer. Let’s take a closer look at how much it costs to sell a house in Kansas City.
From the moment you contact a realtor and put the sign in the yard, you will need a sizable budget for selling your house, as you will incur many of the costs long before you sell the house. Some of the most common expenses include:
Average Cost: $100 to $1,000
When it comes to marketing and promoting your house, there are virtually no limits. You can go online and list your house on popular sites such as Zillow, Houselister, or Redfin. You can also expand your market reach by going through social media sites and listing your house on a realtor’s site. There are also numerous ways you can create exposure offline.
However, marketing is rarely free. Some marketing tools come with a one-time fee or a monthly subscription that you pay until you sell your house. If your realtor is an aggressive marketer, they may charge you a fee for additional marketing strategies that they use to get your house noticed.
Average Cost: $1500 to $2500
If you want your house to stand out, you need to make it as attractive as possible. This includes staging the house, which often entails highlighting the best features of the property inside and out. You may have to have your house professionally cleaned, painted, and arranged so that you can increase the value of the house.
Staging may increase the value of your house by one to five percent. However, is it enough to cover your costs and increase your profit margin? More than likely, you will lose a few hundred dollars to attract potential buyers.
Average Cost: $5,000 to $20,000
Nearly 70 percent of all house sellers have to make at least one major repair or renovation to the house to make it more sellable. In some cases, you may have to repair main components such as the roof or an AC unit just to pass inspection. Common house repairs include:
Even if the house is structurally sound and you do not have to make any major repairs, you may need to undergo a renovation project to modernize it. For instance, you may want to consider remodeling the kitchen or bathroom or pay for landscaping. What you will need to consider is your ROI on the project and whether it is worth it update the house.
Average Cost:5% to 6% of the sale price
Commissions from the sale of a house are usually divided between the selling agent and the buying agent. That means, if you sell your house for $250,000, the agents take $15,000 off the top and then split it two ways. Each real estate agent receives $7500.
Even at only six percent commission, $15,000 is a huge chunk out of your profit. When combined with other expenses, you can quickly see how expenses add up. Even after you pay real estate commissions and other expenses, you will still have to pay part or all of the closing costs on the day of the sale.
Did you know that, on average, it takes 60 to 90 days to list and sell your house on the market if you go through a real estate agent? Also, you could pay for numerous out-of-pocket expenses while spending countless hours getting your house ready to sell. Consider these common expenses associated with a traditional house sale:
Something that you may not have considered is how much it may take to repair or renovate your home. If you have to replace the roof, windows, plumbing, AC, or electrical system, you could spend thousands of dollars before the inspector approves the sale of your home. In the end, you have to ask yourself, “Is it worth it?”
With Rex Buys KC, you can eliminate all of these costs and sell your house in as little as 30 days. Simply schedule a quick walkthrough with one of our local house buyers and let us make a fast cash offer. We are the company that buys houses as-is.
At Rex Buys KC, we buy houses for cash. We pay all closing costs and do not charge any fees. Our company purchases property as-is and put cash in your hands in as little as 30 days. Call one of our local cash home buyers today at 816-895-2999 and schedule a quick walkthrough with one of our house buyers in Kansas City, Missouri.
At Rex Buys KC, our investors work with house sellers throughout key areas in Missouri and Kansas. Many of our sellers come from the following areas:
|Kansas City, KS
|Kansas City, MO