The Cost of Selling a House
Selling your home is an exciting step forward into something new for your life. What you may not realise, though, is that it can also be an incredibly expensive step forward. That process doesn’t actually become easier if you’re trying to buy a new home at the same time as you sell your old home. How do you even decide whether now is the right time to sell, though, and how do you plan for all of the costs involved with selling a house?
Making the Choice to Sell
The first step in the process for many is deciding whether now is a good time to sell your home. If you’re thinking of selling because you have space issues, it’s worth it to check to see if building an extension, converting existing attic space, or even digging out a basement might be a better move for you. Given the high costs of both buying and selling a home, especially when you factor in stamp duty, now may not be the best time to sell, especially if you can solve the problem with a few simple steps. If you’re considering selling because you’re ready to downsize to something a bit easier, make certain you look into whether a smaller house might actually be less expensive. You can certainly look into options that meet all of your needs but ensure you’ll truly be saving money in the process. You may also want to look into the possibility of letting your home instead of selling it. This is a great time to become a landlord, and you may have the ability to create a passive income stream that could keep your finances in check for years to come.
If, after weighing all of the possible factors, you still decide to sell, the next step is to start thinking about the financial concerns that surround selling a home.
Understanding the Finances
There are many different aspects to the cost of selling your home. Six, though, will truly determine your overall costs.
- The Cost of House ValuationThe Cost of House Valuation
Before you actually put your home on the market, the single best first step is to decide exactly how much your home is worth. It’s easily one of the toughest decisions you’ll make when you’re selling your home, and there are lots of resources that can help you make your choice.
- Estate Agent FeesEstate Agent Fees
For most people who decide to sell their homes in the UK, an estate agent is one of the first stops along the way, and for good reason. Estate agents are one of the fastest connections to selling your home because they know how to get homes listed quickly and get them sold.
- Solicitors FeesSolicitors Fees
While many people save this step until after they already have an offer on their home, the simple reality is that this is a team member that you’ll want to select to help you sell your home sooner rather than later.
- Conveyancing FeesConveyancing Fees
Much of the cost of those solicitors’ fees come from the conveyancing costs themselves, and almost all of them are necessary to sell your home. The legal fees you see on the bill are just what the solicitors charge to do their work.
- Removal Company CostsRemoval Company Costs
You can actually move out of your home whenever you like in the process, even on the day of completion, but if you’re like most people, that’s going to involve the cost of a removal company.
- The Cost of Porting a MortgageThe Cost of Porting a Mortgage
If you’re about to purchase another home, you may wonder whether porting your mortgage is the right choice, as it can often help you avoid some of the fees and hassles of applying for a brand-new loan, and it may mean that you don’t lose out on the favourable interest rates you got with the original deal.
There are so many different costs involved with moving, but if you’re certain that it’s the right decision for you, there’s never been a time to get started. Begin deciding what you’ll do after you move, then make the choice to talk to your mortgage company and begin assembling the team that will help you list your home and move it from the “For Sale” feature of websites to the “Sold” feature of real estate websites in no time at all!
Frequently asked questions
How does it Work?
Selling your home quickly for cash with Good Move is a straightforward process. Just get in touch, either directly or using our online valuation form to get started. From here, one of our property buyers will contact you within 24 hours with an offer in principle. This offer is an educated estimate, and may be subject to change upon inspection. Happy with the offer in principle? Great! We'll send our asset management company over to complete two appraisals, which will be sent to our survey team. This is all free of charge, and is a no obligation process. Our survey team will then make a formal offer, and once accepted our solicitors will get to work. Find out more about the process of selling your property to Good Move. Happy with the offer in principle? Great! We’ll send our asset management company over to complete two appraisals, which will be sent to our survey team. This is all free of charge, and is a no obligation process. Our survey team will then make a formal offer, and once accepted our solicitors will get to work. Find out more about the process of selling your property to Good Move.
How long will it take to receive an 'Offer in Principle' and a 'Formal Offer'?
Every sale is different, and we’ll establish a timescale that works best for you. However, we aim to present you with an offer in principle within 24 hours and complete the sale, alongside providing you with a final offer, within 2-3 weeks.
Can Good Move buy any type of property?
We purchase most types of property in England, Scotland and Wales. If we can't, we'll do our best to find someone who can or point you in the right direction to achieve a sale.
How does Good Move value properties?
Our offer in principle is based on the information you provide as well as our own online research. If this is acceptable, we will then arrange at least one independent valuation to be carried out either by an estate agent local to your property or an RICS chartered surveyor, all free of charge.
Can't see your situation?
Not to worry, these are only some examples. We appreciate that everyone has their own individual reasons for sale and take the time to make sure we get everything correct for you. Whatever the reason, Good Move can help achieve a quick house sale.
Get a Cash Offer
We are proud members of...
We are proud to be the most regulated property buyer operating in the ‘Quick House Sale’ industry. We are an active member of the NAPB (National Association Of Property Buyers) and are RICS regulated, which means you can have every confidence of selling your home with us quickly & easily.