Selling your Montreal home? Take the time to make your calculations carefully to avoid unpleasant surprises! A sale on the traditional market can cost a fortune, whereas a direct sale shouldn’t cost you a penny. In this blog, we talk about the costs and delays you should expect when selling a home in Montreal!
Many homeowners sign an agreement with a real estate agent at [maret_city] to find out about the process that will follow. Before you sign an agreement or decide on the method you will use to sell your Montreal home, you should take the time to estimate how much it will cost and how long it will take. We strongly advise you to compare several methods and evaluate how they will affect your life. Read on to learn more about the numbers you need to know to sell your home in Montreal.
The cost of renovations
The problem with the cost of renovations is that these expenses sometimes snowball. A leaky pipe that seems easily repaired, for example, could have caused more extensive damage to the house. When repairing something, many homeowners discover that there are several others that also need to be repaired. If you’re advertising your home for sale on the Montreal market, you’ll want it to stand out from the crowd. To do this, you’ll certainly want to do a few small jobs to improve its appearance and prepare it for inspection. Potential buyers will often try to negotiate following the appraisal and inspection, forcing the seller to lose even more money. Also, some sellers pay for the inspection themselves before advertising their property. So they know exactly what they’re getting into.
Preparation costs
Preparing a home for the Montreal market isn’t just a formality. You may decide to pack your belongings and store them. You could also do a little home staging and add a few decorations here and there to give the house a magazine-photo look. You could even bring in a professional designer to make your home as warm and welcoming as possible. No matter what state your home is currently in, you’re sure to find something to do to make it even better.
The cost of marketing
If you decide to advertise your home for sale with a Montreal agent, be sure to ask about the type of promotion included in your contract. Some agents go the whole hog, advertising wherever they can, while others simply advertise on one or two websites in the hope that a buyer will call. As a result, many sellers end up spending out of their own pockets to buy visibility packages, hire a professional photographer and print promotional items.
Cost of ownership
Do you really know how much it costs to own a home? In addition to the mortgage you probably have to repay every month, you also pay for electricity, repairs and property maintenance. Any good investor will tell you: the longer you keep a house, the more it costs. If you want to put an end to your carrying costs right away, selling your Montreal home will allow you to do just that. This means you can sell in just a few days (not months), which could save you thousands of dollars that would otherwise have been spent on maintaining the property.
The cost of commissions and other agency fees
Commissions paid to your agent will be around 6% of the sale price. Let’s say you sell your home for $250,000. You’ll have to pay $15,000 immediately, in addition to any other fees or reimbursements owed to your agent. If you add this hefty sum of money to the other fees and expenses, it’s likely that you’ll come to the conclusion that a direct sale is a much better method of selling your property.
The cost of closing
The closing costs charged to the seller are usually in the range of 1% to 3% of the sale price. So if you’re selling for $250,000, you’ll have to pay another $2,500 to $7,500 to close. If you sell to the Vendre Maison Vite team instead, you won’t be charged closing costs. We’ll take care of everything so you can sell quickly and move on to the next call.
When you decide to sell a Montreal home with the help of a real estate agent, or to advertise it for sale on your own, it’s important to understand how much it will cost. Don’t just look at the final selling price to see how much profit you’ll make; there are many other factors to consider.
Advertising a home for sale on the traditional market can be expensive. However, for some owners, it makes more sense to sell to a private individual than to a professional. For other homeowners, selling a house directly to a professional will make maximum money from the sale and save time. To choose the method that’s best for you, you need to take your property and personal situation into account!
