Are you worried that you could lose money selling a house as is in Texas without doing any renovations, repairs, or changes? If so, it can be helpful to learn the basics of house selling, how to sell a house in Texas, and the bottom line of getting a big return!
After all, you don’t want to spend all of your hard-earned cash on realtor fees and real estate commissions without getting money back in the end. Learning the average house staging costs, home repairs and maintenance costs, and necessary home improvements can help you as a homeowner make the smartest financial decision when it comes to your home’s value and the selling price in Texas.
Cost of Selling a House
How much does it cost to sell a house in Texas? Will you lose money selling a house as is in Texas? These are the questions that many homeowners have before they list their house on the local market.
Fortunately, learning the average prices of staging costs, home repairs and maintenance costs, and home improvements can give homeowners a good idea of how much they need to spend. Look to buy my house in Texas to make some quick cash!
Staging Costs
Staging a home is the process of getting a house ready to sell and put on the market. The average price of staging a house is between $745 and $2,664 depending on the size of the house, the staging necessary, and the professional hired.
Overall, the national average home staging cost comes out to just over $1,600, with full furniture rentals costing over $6,000 for extended periods. If you find out your weaknesses in your house, such as poor painting, unclean areas, and unfinished floors, this can make the staining cost even higher.
Homeowners can use a home staging pricing calculator to find out how much it would cost to stage their home. By entering their zip code, they can calculate the average staging costs for their city in Texas. Typically, the consultation costs between $150 and $600 for the initial fee, whereas the home staging cost per hour comes to around $75 per hour on average.
Real estate agents typically take between 1-3% of the asking price to furnish an empty house. When the house is sold in the seller’s market in Texas, the agent will receive their money when the home closes. In other cases, some agents may already include this in the complimentary service.
Lastly, the price of staging a home depends on the furniture already in the house. Staging an empty or vacant house costs around $2,000 per month for a 3-bedroom house, whereas staining an occupied home usually costs less than $1,000 as a one-time fee.
Home Repairs and Maintenance Costs
How much do home repairs cost when it comes to maintenance, improvements, and replacements? Finding out the average maintenance cost for your home repairs can help you calculate the overall seller costs for your home.
In some cases, home repairs are necessary to get your house in a good place based on the market conditions. If your house is a fixer-upper and won’t sell in its current conditions, it may require renovations to secure the foundation, paint changes, appliance upgrades, and other major repairs.
Some of the most common home repairs and repair costs are associated with painting, window washing, home repair, home staging, home inspection reports, and lighting and heating the house.
- Painting the home typically costs about $3 per square foot
- Window washing costs between $150 and $300 depending on the size of the house
- Home repair is only necessary for fixups that can increase the market value of the home (not large-scale renovations)
- Landscaping your garden and outside area can make the house more desirable
Home Improvements
Other things that might need to be paid for during the home sale process include home improvements. These are items that can help the house sell for a higher price, although they are not technically a must-do to sell the house as is. If you want to increase the value of your house on the market, completing home improvements can be worth the time and effort in the long run.
The most common home improvements on a home include the following:
- Minor kitchen upgrade (appliances and new flooring) is approximately $26K
- Bathroom remodel comes to approximately $24K
- Master suite addition comes to just over $150K
- Basement remodel is over $20K
- Deck addition is approximately $22K
- Landscaping comes to between $3K and $4K
- New front door is $2K
Negotiating the Sale
The next step in selling your house on the market in Texas includes negotiating the sale. You need a knowledgeable real estate agent who knows how to list your home, what price to list the house at, and where to list your house (websites, ads, etc.). Although you may have done the hard work ahead of time, like listing and fixing the house, negotiating the sale is essential to getting the most for your money.
The top things to keep in mind when it comes to negotiating a home sale include countering an offer at your list price, rejecting an unfair cash offer, creating a bidding war between potential buyers, and putting an expiration date on your listing to make it seem more desirable. Finding a cash buyer can help you get the house into escrow and get cash in hand upfront!
Not sure who to hire to sell your house? We buy houses in Jacksonville to help you get your house off the market ASAP.
Realtor Commissions
Hiring a professional can help you sell your house faster and get you more money in the long run. Therefore, it is no wonder that you may need to pay a higher realtor commission if you would like to get your house off the market in just a few days. So how much can you expect to pay for real estate agent fees?
Typically, realtor commission rates vary between states and brokerages. Since there are no laws that set commission fees, agent commissions are negotiable in the state of Texas. Ensure you ask your real estate agent the percentage they charge for commission before hiring them to sell your house.
Look for companies that buy houses in Longview to get the best deal possible!
Seller Concessions
When it comes to selling a house in Texas, homeowners need to consider seller concessions. Seller concessions are the closing costs the seller has already agreed to pay during the process. These seller costs can make the home less expensive for the potential buyer and can help speed up the negotiation process. Figuring out the correct seller concession number with a real estate agent can help homebuyers take their house off the market faster.
The advantage of using seller concessions is that buyers can pay less at closing to make the home more affordable on the market. As a buyer, this means the home will be a few thousand dollars less. Lastly, the seller can benefit from these concessions because they can avoid their house being on the market for too long and depreciating in value.
The only downside of using seller concessions is that home sellers could deal with less-appealing buyers who could not afford the house in the first place. Therefore, it can lead to shoddy deals and less trustworthy individuals.
Are you selling a house for cash? Calculate your seller concessions before listing your home!
Closing Costs in Texas
Just like everything for sale in the United States, the prices and the fees differ depending on where you live. Closing costs include the following in the state of Texas:
- Title insurance fees for the buyer
- Credit report fee
- Courier fees
- Lawyer fees
- Application fees
- Lender fees
- Appraisal fee
The mortgage payments can influence how much closing costs will be on a home. For example, those who have lower credit scores will have to pay a higher percentage of their mortgage loan when it comes to closing on their house payment.
Homeowners can only reduce closing costs by choosing a reputable mortgage company that helps find the best mortgage rates, offer flexible lending options, and work with trustworthy real estate agents who can help offset the overall payment.
In Texas, the closing costs typically range between 3 and 6% of the mortgage loan price. For example, a person purchases a $200,000 home with a 10% down payment. Their closing fees are 3% of the purchase price. The individual can expect to pay around an additional $3,000 during the closing stages.
Will You Lose Money When Selling a House in Texas?
Selling a house in Texas doesn’t mean that you are going to go bankrupt. Although It can be an expensive process, it doesn’t automatically mean that you will lose money.
Despite paying for repairs, renovations, upgrades, realtor fees, closing costs, and moving to a new location, homeowners can still make between 85 and 90% of their total home sale price. Check out the most expensive home sales in TX to get a good idea of what you can make on your newly-listed house!
Conclusion
How much do you lose selling a house as is? Learning the necessary repairs, fees, costs, and must-do’s associated with selling a house in Texas can help give homeowners an idea of the best way to list and sell their house for the most profit.
Check out Texas Land and Home to learn more about making money during the sale process.