Selling your home is an emotional experience packed with many conflicting feelings, ranging from excitement to sadness and happiness.
To make the entire process as seamless and stress-free as possible, it’s best to be organised, and since there’s nothing like a good list, we’ve put together a guide outlining what you should expect to pay, so you can budget accordingly.
Energy Performance Certificate (EPC)
An EPC is a grading system to measure the energy efficiency of your home. It’s illegal to sell your home without it. The greener your home, the greener the rating, and it ranks from A to G, with A being the highest level. The further down the ranks your home is, the less efficient it is.
Upcoming changes to EPC regulations mean that by 2035, all homes will have to have a rating of ‘C’ or higher before you can sell them.
Cost of an EPC certificate: Between £35-£120.
Conveyancing fees
This is all about the legal side of your home sale.
In essence, these costs can be broken into two sections. Legal fees are the cost of paying the conveyancer or solicitor for their work. The second is any disbursement costs, which cover costs such as searches, and as the seller, you should not have to pay these costs.
Cost of conveyancing: Between £300 and £1100,** depending on the size and type of property and what services you require.
Removal costs
Whether you choose to get some of the moving done yourself, or if you hire a professional removal service; It pays to be organised. Make sure to write lists of labelled boxes, and shop around for the best price.
Cost of removal service: Can range from £300 to £2000+, although the average house removal cost in Britain for a three-bedroom home is £800.* If you are moving from a small flat, you may pay as little as £300.
Early repayment charges
This is a fee to your mortgage lender, which you could be asked to pay if you wish to reduce the amount you have borrowed, perhaps by paying off a large sum.
Cost of early repayment charge: This will vary between lenders. For help with your mortgage, speak to our team.
Capital Gains Tax
This is a tax on the profit that you gain from selling a home that has increased in value. It should be noted that it’s the gain you make that is taxed, not the amount of money you receive.
Cost of Capital Gains Tax: Visit the government website.
Estate agent fees
The fee that you pay your agent will depend on may things, including the price of your home and how you want it to be marketed.
Bear in mind that paying less in estate agent fees is a false economy, especially if your property does not achieve the price it deserves or takes too long to sell.
With years of experience in preparing your home and a vast database of buyers, Martin & Co agents are worth every penny. It’s a comforting feeling to have a friendly face to take care of everything, advising and guiding you through the entire process.
Cost of estate agent fees: Get in touch for a quote.
What are my next steps?
Now that you are aware of the costs of selling a home, you can create a budget for your big move. Many homes have benefited from rapid increases in value in recent years. So, you are in a great position to make your move.
Get in touch with our knowledgeable and friendly team today to make your move happen.
