7 (Surprising) Costs Of Selling a Livonia Home

Livonia homeowners that are getting ready to sell their home have dreams of cash flowing into their bank account.  However, few homeowners take into consideration the costs that accompany selling a Livonia home. Some of these costs sneak up on homeowners who expect to pay little to nothing while selling their home.  

Do not let this seven common costs of selling a Livonia home come as a surprise.

Needed Updates

Unless a Livonia home is being sold as is and at a significant discount the homeowner must make needed repairs and updates before putting it on the market.  Some of these updates may be large projects that require a professional to complete.

It is tempting to find a contractor who offers a job for a lot less than their competitors.  But a cheap job is often just that: cheap. The materials and work are likely to be mediocre.  This will show through in the final product. Do not go cheap and let buyers find poorly completed updates during their walk through.

Taking Photos

Most buyers find their potential Livonia home with a quick online search.  The blurb and pictures of the home will seal the deal with a buyer. That means every picture that a buyer will see needs to be superb.  Hiring a professional photographer is a good way to advertise the house in the best way possible, but it can be costly.

Take It Outside

The first area of a Livonia house a buyer will see is the front yard.  They are going to pull up and make a judgment of the home. Having a well-manicured yard is going to make them believe the rest of the home is well-maintained.  

Add flowers, trees, or other foliage to bring more vibrancy to the area.  This is a job that a homeowner may want to do themselves to save a little money.

Set Up For Success

Once a buyer steps foot into the house they need to be wowed by the furniture arrangement.  Staging a home makes it much more desirable in the eyes of a buyer.

Unfortunately, home staging can be very expensive.  Most companies charge a fee for a consultation and a fee per room staged.

If staging is too expensive consider sprucing up the area with additional décor items.  Simple items like fresh fruit or flowers make a room more appealing. Have vibrant towels in the bathroom and make sure the home smells good with pleasant air fresheners.

Paying For Two Homes

A homeowner that has already purchased their second Livonia home is going to feel the stress of two sets of utilities.  If the home that is for sale sits on the market too long this can put a huge strain on their finances. Try to avoid turning off any utilities.  No buyer will feel welcomed in a home that has no electricity or water.

Making Too Big of a Profit

Every homeowner’s dream is to make a huge profit on a house they bought for cheap.  However, when this happens they may end up paying capital gains tax.

Capital gains tax is the amount of money made from selling the home compared to purchasing it then any documented improvement costs are taken out.  

The Cost to Close

The one cost that most homeowners expect when selling a Livonia home is closing costs.  These are the expenses paid to finalize closing on a deal with a buyer. This amount can change sale to sale but it is usually two percent of the sale price of the home.  

To have a successful sale on a home the homeowner should have realistic expectations.  Not all of the money from the sale can be put toward the next house. There are many expenses that are tied to selling a Livonia home that a homeowner should be aware of.