When selling your home there are a lot of costs to consider. A recent study showed more than a quarter of sellers spent more than they budgeted for. In 2022 the average cost of selling your home is £5,723.
In this article, we will highlight all the typical costs involved and give you estimates for what you should be looking to pay for each service. Helping you to avoid paying unnecessary fees where possible.
Agency Fees
The largest and most obvious costs are estate agents. Estate agent will charge between 0.75% and 3% plus VAT of the selling price depending on what contract and agent you choose so be selective and make sure you know all your options.
The current average selling price of a home in Bristol is £359,969. If the average agent is 1% you’ll have to pay £4319.63 including VAT.
Alternatively, when selling your home with Zump, you have the option to sell yourself instead of through an agent saving you thousands.
Legal Fees
You will need a solicitor or conveyancer to deal with the purchase of a property. They deal with enquiries, mortgage offers, searches, and everything else that may arise. Typical Legal fees are between £850-£1500 and can include:
Funds transfer fee - this is the transfer of money from your solicitor to your seller's solicitor. This costs around £50
And there is a £10 land registry fee.
For more information on conveyancing check out our blog on solicitors here.
Energy Performance Certificate EPC
By law, when selling your home you have to have an in date EPC. An EPC shows important information about the properties energy efficiency. How much it uses and general costs. The average cost for an EPCis £50.
Removal Costs
Removal costs will fluctuate depending on how much stuff you have to move and how far you are moving. Some typical costs are:
£300 for a 1-2-bedroom house
£458 for a 3-bedroom house
£682 for a 4-bedroom house
£871 for a 5-bedroom house
Remember to book removals in advance! This will reduce stress around moving. Some removal companies offer discounts for advance bookings.
Stay in touch
The costs involved in selling your home aren’t always obvious and this is by no means an exhaustive list of every charge you may face. But, use this as a guideline for typical charges. It can take a lot of time to find the best professionals for you.
Our team has been working in the market for over 50 years and we only work with the very best. Check out our Pro’s area in-app to find the right Pro for you.
If you need help, guidance, or advice please don’t hesitate to contact us.