How much will I keep if I sell my home?

Sellers - let’s crunch some numbers.

Take your selling price and subtract:

1. Mortgage payoff amount (Heads up! This isn’t the same as your last statement balance.) Depending on your loan product there may be 'break fees' or fixed interest costs - make that call prior to selling.

2. Real estate commissions (Typically 2% - 3.5% depending on the agent and offering)

3. Marketing (Anywhere from $0 to many thousands, again depending on your agent)

4. Costs to stage and prep your home (If suitable and part of the plan. Styling starts at $3,000 for a 3 bedroom home, larger home = more furniture/time required)

5. Legal Costs (if the sale is fairly straightforward you can budget around $1000 for this)

6. Moving expenses (Depending on how hands on you want to be, from as little as ute hire, to $10,000+ if you want it all done for you.)

7. If your sale is an investment property you should make enquiries about whether Capital Gains Tax applies to you. If it does the upside is that many of the above expenses may be used to offset your tax burden. (Seek professional financial advice about this point)

All said and done, seller expenses can add up. If this sounds alot, don’t fret! In this market, home prices are still well up — and that's after a 25%+ jump in 2021! Ready to talk about selling your home? Get in touch.

We are your Redlands real estate specialists, centrally located in Capalaba to service all surrounding areas.