What are the costs involved in selling my home

The typical costs involved in selling a house or flat?

Every home sale will naturally be different and the circumstances dependent on your particular property, but there are typically some costs that occur before you put your home on the market and then some expenses that you’ll have to pay once you have a buyer.

Some of the fees can be for improvements you make to the home to make it more attractive to a potential purchaser, such as giving it a fresh coat of paint or doing other necessary repairs.

Other expenses you might have to pay are those you’ll be liable for later in the process as you get closer to exchanging, or at completion when receiving payment. These can include the fees that you’ll have to pay to an auctioneer or an estate agent if you have decided to sell your property through one of those two options.

The guide below outlines some of the most common costs homeowners have to pay throughout the sale process, as well as a few tips about how to reduce your overall expenses.

Saving on costs you have to pay before selling

Some of the most typical expenses that homeowners might incur before they get an offer to buy typically involve steps that they might take to make their property more attractive.

Home improvements

If your house has broken window frames, peeling paint, an overgrown garden, dirty windows, or other unsightly features you run the risk of deterring potential buyers. By investing in some basic but affordable home improvement supplies like paint or gardening tools you can dramatically improve your property’s appearance and make it far more attractive to potential buyers who come to view it.

How to save money: you could shop around for less-expensive products that you use for your home repairs, or factor the cost of the products into your home’s sale price.

Energy performance certificates

Before selling your home you will need to get an energy performance certificate, typically referred to as an EPC. These certificates give information on your home’s energy usage in addition to suggestions for lowering that usage. It’s mandatory to have an EPC before selling and if you need to get one the cost starts at £35 but can be much more for larger buildings.

How to save money: ask around accredited Domestic Energy Assessors, who can provide you with an EPC, to see if you can find the cheapest possible option.

Saving on costs you have to pay once you’ve got a buyer

If you’ve already secured a prospective buyer for your house or flat, you might still have some major fees and other costs to pay as you get close to completing the sale.

Estate agent fees

If you’re selling your home through an estate agent then you have the benefit of the agent taking care of all the hard work including listing the property, getting buyers interested and holding viewings. But you’ll have to pay for all this work, and the estate agent will charge you fees once the sale is complete. The actual charge is usually incurred at the point of exchange, however payment is often delayed until completion.

How to save money: don’t sign up with the first estate agent you talk to, and see if there are other agents who can sell your house with lower fees.

Auctioneer fees

Similarly if you sell your house or flat at auction you will have less stress because the auctioneer will handle most of the sale process from listing through to auctioning it. But they will charge fees for their time and effort, which can be significant in some cases.

How to save money: many homeowners who sell at auction pass on the auctioneer fee costs to the buyer, so ask your auctioneer if this is something you can do.

Conveyancing fees

A necessary part of the home sale process is hiring a conveyancer, who is a licensed professional that handles all of the complex legal and other paperwork involved in selling your property – including any necessary work with government departments like HM Land Registry. You can expect to pay at least £500 for these fees.

How to save money: asking around is your best way to compare price quotes from various conveyancing companies and find the lowest possible rate.

Removal costs

When moving home some people organise their own removal, but most people pay for companies to remove their furniture and take it to their next property. The larger your home and the more items you have to move, the more expensive the removal costs.

How to save money: look for removal companies that are advertising discounts on their services and spend some time searching for the cheapest option.