The True Costs of Moving

Selling your first home and purchasing your next one can seem like an insurmountable process when you’re in the thick of it. That’s why it’s important to plan ahead before the madness begins. The first step is understanding the costs beyond the listing price.

CHIC (Pearl)

Before you commit to listing your current home, it’s a good idea to ask your agent for an estimate of all the closing costs involved. A roll call of the usual suspects includes real estate commissions, advertising, legal and professional fees, excise taxes, capital gains taxes, prorated property taxes and HOA fees, and typically surveys, inspections, etc. You’ll need to put a number to all of these items to get a full picture of your options for buying a new home, which comes with its own set of peripheral expenses.

GEEK (Kevin)

So what are some of the costs you need to consider as a buyer? To name just a few: down payment, lending fees, title fees, insurance, inspections (if the seller isn’t paying), professional cleaning, repairs and cosmetic upgrades, utility deposits, and more. We also suggest getting pre-approved for a new home loan before you do anything else, and while you’re at it, make sure to include the costs for any renovations you may want to make. Oh, and did we mention moving expenses? It adds up quick!

Chic vs. Geek: Where did the washing machine go?

Recently, we had a conversation with friends about the commissions real estate agents receive on home transactions. They wanted to know if a 3% commission was a good rate. The truth is that a good real estate agent could mean the difference between getting what you want and settling for less. The real question is how much that’s worth to you.

CHIC (PEARL)

Real estate agents are there from the very beginning of your buying or selling journey. We help prepare homes for sale with staging and marketing plans designed strategically to get you the maximum return on your investment. A good agent will also order a pre-inspection to make sure there are no surprises. Once you’re ready for market, an agent will make sure you don’t set a price so high that you scare buyers away, or so low so you leave money on the table. Agents understand buyer demographics and conduct a comprehensive marketing appeal to showcase the home. Bottom line: We are dedicated to acting in your best interest.

GEEK (KEVIN)

Many people think an agent’s work is done when the “SOLD” sign goes up. We continue to work with you all the way through to the closing and key transfer, dealing with the inevitable snafus — “Where did the washing machine go?” “I thought the property line was over here.” etc. The best real estate agents are masters of many trades, and extremely resourceful. We don’t just recommend contractors who do great work at reasonable rates; we coordinate projects to make sure they’re done on your schedule. There are so many moving parts in a big transaction. Our job is to minimize your stress and get you the best result possible.