What does it really cost to sell your house?

Selling your home is a big decision, and while the thought of securing a great sale price is exciting, it’s important to understand the full financial picture.

Many sellers assume the profit will simply be the sale price minus whatever is remaining on their mortgage. But in reality, there are a number of costs involved that can influence how much you actually walk away with.

By understanding these upfront, you can budget confidently, avoid any last-minute surprises, and move forward with a clear plan.

The main costs involved in selling a property

Here’s a breakdown of the most common (and important) expenses you’re likely to encounter when selling your home.

Agent commission

Real estate agent fees are usually the biggest cost involved in a sale. These are typically charged as a percentage of your final sale price.

It can be tempting to focus on the fee itself, but what really matters is the result your agent delivers. A good agent knows how to price your property, position it strategically, attract the right buyers, and negotiate strongly on your behalf. That expertise can make a big difference to your final outcome, making the commission a worthwhile investment.

Marketing costs: getting eyes on your property

In today’s market, you can’t rely on just a “For Sale” sign out front. Professional marketing plays a key role in helping your property stand out and reach serious buyers.

This might include photography, copywriting, floorplans, social media promotion and premium listings on real estate websites. A strong marketing campaign creates more interest, which often leads to more competition and a better result on auction day or sale.

Presentation and styling: creating the right first impression

Presentation matters. Buyers make decisions quickly, and how your home looks, both online and in person, can have a real impact on their offer.

You might only need a few touch-ups, like paint or garden tidy-ups, but some sellers opt for full professional styling to really showcase the space. It’s all about helping buyers see the potential and imagine themselves living there.

Conveyancing and legal fees

Once you’ve accepted an offer, you’ll need a solicitor or conveyancer to manage the legal side of the sale. They’ll handle things like reviewing contracts, managing key dates and coordinating settlement.

While these costs are fixed and non-negotiable, they’re essential for keeping your sale on track and ensuring everything is handled properly.

The unexpected extras that can add up

Some additional costs can catch sellers off guard, especially if you haven’t sold in a while. Here are a few to keep in mind:

• Mortgage exit fees
  If you’re paying off your home loan early, your lender might charge a discharge fee. It’s best to check this in advance with your bank or broker.
• Auction costs
  If you choose to sell by auction, you’ll need to cover the auctioneer’s fee. Your agent can give you a clear idea of what to expect.
• Moving costs
  From removalists and packing supplies to cleaners and utility reconnections, moving costs can add up quickly. It’s worth factoring them into your overall budget.
• Capital gains tax (CGT)
  If you’re selling an investment property, you may need to pay capital gains tax. Your principal place of residence is generally exempt, but it’s a good idea to speak with your accountant to be sure.

Do your homework and get the right advice

Selling a property involves a lot of moving parts, and getting the best outcome isn’t just about finding a buyer. It’s about understanding the process, knowing what to expect and having the right people on your side.
Taking the time to do your research, ask questions and get professional advice will help you navigate the process with confidence.

Ready to make your move?

If you’re thinking about selling, the team at McGrath Aspley is here to help. With over 40 years of local experience, we know how to guide you through a successful sale from start to finish.

Get in touch today to chat with one of our local property experts.

Disclaimer
All information is general and not intended as a substitute for professional advice.