Do you know what owning your home is really costing you? People are often surprised when they add up all the numbers to see just how much of their income is being spent on an unwanted property. Learn more about some of the holding costs you will potentially face as a homeowner in Greendale.
Owning a house can be expensive! This is why when investors flip a house, the goal is to sell it as quickly as possible. Holding onto it will eat away at their profits until the house eventually ends up costing them! Do you own a house you’d rather sell? Waiting for a buyer and the escrow process can take months when selling with a real estate agent in Greendale. By the time the process has been completed, you could be out thousands in lost holding costs! Here are just a few of the costs you will continue to face if you opt to list your house on the MLS.
Typical Holding Costs
Even when you move out of the property, the lights still need to be turned on. As long as you’re the legal owner of the property, you’ll have to pay the utilities. If you have a large house, it likely has huge bills. Unless you’re able to downsize it, you may end up spending an entire fortune waiting for the right buyer to appear. Not to mention the costs that come with HVAC bills, as well! Taking into consideration that average bills are several hundreds a month, you may end up with thousands in holding costs!
Just like your utility bills, you are liable for taxes even after listing your house on MLS. Depending on the location of your property and its size, this may end up a few more thousands of dollars in just a few months. If you sell your house fast, you don’t have to worry about this.
Light bulbs, gas for the lawnmower, new a/c filters… these things add up quicker than you may think and you have to calculate them in your holding costs. Take the time to consider how many trips to Home Depot you’re making, and how much time you are spending simply maintaining the home while it is listed. You may find that waiting for a traditional sale isn’t worth it.
You have calculated everything, made the necessary preparations, scheduled the inspection… and your a/c dies, or the neighbor kids break your window. Surprise repairs happen all the time, and if you have already decided that you want to get rid of that house, you really don’t need to invest any more money in it.
The average homeowner pays around $1,200 per year for their homeowner’s insurance. While this figure can vary widely depending on where you live, it can ultimately be a significant expense, especially when it’s for a house you no longer want.
When you list your Greendale house, curb appeal is incredibly important. When trying to sell your house the traditional way, it is important that you maximize your curb appeal. Whether you do it yourself or hire a professional to help, keeping up with the landscaping will cost you time and money.
Of course, make sure that you don’t make of the common 6 lawn care mistakes that can ruin your yard in Greendale
The inside of the property needs to be in great condition, just like the outdoors. Your house must be kept clean all the times, so you are always prepared for an unexpected urgent showing. Hiring a maid may help, but it doesn’t come without a price, and all of the house members are needed to keep the house tidy every day, every hour.
Other Holding Costs
Depending on where you live and the current situation you are facing with your property, you may find that you are dealing with even more costs as a reluctant property owner. A few of these costs include…
If you own a home in a development or private community, you’ll be required to keep up with the HOA costs until you are no longer listed as the owner of the home.
Maybe you own an investment property in Greendale, but you are living out of the area and wish to sell. You may be dealing with property management fees and other costs as a landlord.
Home Watch Services
If you live out of the area and aren’t renting out the home with a property management company, you will likely have someone who you have hired to check on the house for you every so often.
When it comes down to it, your holding costs can add up to a small fortune. Once you have made the decision that you would like to sell your house in Greendale, the faster you are able to do it, the more money you will be able to put in your pocket. We invite you to run the numbers for your property so you can determine the selling option that will work best for your house in Greendale!