The costs of selling a house in 2018
by Housesimple on 1st January 2018
From conveyancing to removals, there are many costs involved in selling a house. It’s important to be aware of all the charges and fees you can incur when selling your home, so you can budget accordingly.
Some of the estimated direct costs of selling a house include:
- Estate agent fees - Between 0.75-3% of the agreed sale price, plus VAT.
- Conveyancing fees - Normally between £500 and £1,500.
- Energy Performance Certificates (EPCs) - Typically, between £50 and £120
- Removals - Around £400-£1,500 depending on the size of your property.
Below, we have explained some of the main costs of selling your home in more detail.
Estate agent fees
Traditional estate agent fees for house sellers normally vary between 0.75% and 3% of the agreed sale price, with 20% VAT on top. The average house price in the UK is currently around £225,000, meaning that sellers can expect to pay their estate agent £4,050 at a rate of 1.5% commission including VAT. If you sell your house online with HouseSimple.com, you’ll pay much less in fees – as little as £995, in fact – and that’s only on completion of the sale.
Solicitor fees to sell a house
A solicitor or a licensed conveyancer typically handle the legalities around your house sale. You’ll normally pay between £500 and £1,500 in conveyancing fees, depending on how complicated the transaction is.
The fee also depends on whether you’re being charged a percentage of the property or a flat rate. At HouseSimple.com, we offer a fixed fee for conveyancing, regardless of the price of your property.
Energy Performance Certificates (EPCs)
Sellers are required to present buyers with an Energy Performance Certificate (EPC), which confirms the energy-efficiency rating of the property on a scale of A (most efficient) to G (least efficient). These are provided by an approved domestic energy assessor, who will typically charge between £50 and £120 – so shop around to find a competitive price.
Moving all your possessions from one house to another can be pricey, but this depends on how far away your new property is and how many possessions you have. Our advice is to keep costs down by requesting quotes from a few removal companies.
If you are not burdened with moving too much furniture from one property to another, you could try hiring a van through a car rental service.
A fresh lick of paint is one of the most cost-effective ways to make your property more attractive to buyers. Any outstanding bathroom or kitchen repairs should be factored in, too, as should electrical maintenance or work to improve your home’s “curb appeal.”
In a survey of over 1,000 house hunters, HouseSimple.com found that buyers spend more time looking at the living room than any other area of a property – so this is the best place to start with your home improvements.
If you sell your home before buying your next, you may need to factor in expenses for temporary accommodation. If it's for the short-term, consider staying with friends and family to avoid rental costs.
Where there are many costs involved with selling hour house, you can rest assured that house valuations are free when you book with HouseSimple.com.
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