Selling your home can be an exciting journey, but it's crucial to be aware of the hidden costs that can arise. Understanding these expenses can help you budget effectively and prevent any unpleasant surprises along the way.
Conveyancing Fees
Transferring property ownership requires legal work, typically handled by solicitors or licensed conveyancers.
They may charge a fixed fee or a percentage of the sale price. It's advisable to obtain quotes from reputable and experienced professionals to ensure you're getting the best service.
Energy Performance Certificate (EPC)
Before marketing your property, an EPC is legally required to demonstrate its energy efficiency.
The cost of obtaining this certificate ranges from £60 to £120, depending on your property and provider.
Mortgage Exit Fees
If you're settling your mortgage early, be aware that your lender may impose an exit fee or early repayment charge.
Reviewing your mortgage terms will clarify any potential costs.
Removal Costs
Moving expenses can add up quickly, whether you hire a professional removal company or opt for a DIY approach.
Consider costs for packing services or storage if needed.
Property Repairs and Improvements
Preparing your home for sale might involve minor repairs, cleaning, redecorating, or staging.
Although these investments can attract buyers and enhance your sale price, they require upfront budgeting.
Capital Gains Tax
If the property isn't your primary residence, you may be liable for Capital Gains Tax on any profit from the sale.
Seeking professional advice can clarify your obligations.
By planning ahead and understanding these potential costs, you can navigate the selling process with confidence.
Our team at Fine & Country Estate Agents in Chiswick is here to assist you every step of the way, ensuring a smooth and informed property journey.
