Even if you’ve been meticulous about projecting accurate closing costs and real estate commissions, you could be surprised by some of the other expenses associated with your home sale. Little costs can add up quickly and planning ahead can help you anticipate additional demands on your budget. Here are some of the expenditures that may be required:
Getting a home market-ready can take significant time, effort, … and money. For example, you may need to paint the exterior or interior of your house which can mean expenses for paint, tools, and possibly labor. Even if you don’t have to tackle a job as big as painting, you may incur other maintenance expenses such as gutter and roof cleaning or window and pressure washing. Make a list of maintenance tasks you need to accomplish and get several estimates for each to forecast how much cash you’ll need.
Lawn and Landscape
Even if you have an established yard and gardens, you’ll likely experience increased lawn and landscape costs while your home is on the market. During growing season, you’ll want to keep the lawn mowed and edged more frequently for showings and pictures. In fall and winter months, you’ll need to clear the area of leaves and snow more often. You also may need additional funds for planting and mulching flower beds.
Keeping your home at a comfortable temperature for showings may mean higher heating and cooling bills. You also may experience increased water bills for more frequent irrigation and water features. Setting up accounts at your new location may also mean additional deposits and service fees.
Whether you hire a moving company or pack and drive your belongings to the new location, moving can be expensive. Packing supplies, moving vehicle rental, and fuel are some of the extra expenses to anticipate. If you plan to ship any furniture or belongings, be sure to budget for that as well.
Furniture from the home you’re selling may not fit properly in your new place or may not be the right style. Be sure to budget for any new furnishings or other décor you may need, such as window treatments, rugs, lighting, and artwork.
Moving will likely require you to take time away from work for transaction-related meetings and tasks, as well as for moving time. These absences could affect your earnings so be sure to plan accordingly to minimize time off and to supplement missed wages.
Buyers and home inspection reports may identify repairs that need to be made to your home before it conveys. The addition of an HSA home warranty could help mitigate home inspection issues as well as help with expenses related to covered breakdowns that occur during the listing period. HSA protection can also help reassure buyers and boost their confidence and satisfaction with the transaction. For more information about how HSA home warranties can help you budget for real estate transactions, contact your HSA Account Manager or visit online hsaonline.com.
Another good idea is to remember to leave some wiggle room in the budget for dining out more often. Whether you want to keep the kitchen in pristine shape for showings or you have all your cooking supplies packed for the move, you’ll likely be enjoying more restaurant meals than usual during the home sale process.