If you’re planning to sell your house in Concord, CA, it’s crucial to understand the expenses involved in holding your property while it’s on the market. Holding costs can quickly add up, including your mortgage, taxes, insurance, maintenance, or the costs to relocate before the sale of your primary residence. If you’re not careful, holding costs could eat up a significant portion of your profits, especially if your house takes a long time to sell.
To calculate your holding costs accurately, you need to take a realistic inventory of all the recurring expenses. Suppose, for example, your holding costs add up to $2,500 a month, and it takes three months to sell. In that case, your holding costs for the sale of your house were $7,500.
As a seller, you should also consider unexpected repairs, particularly if your property has an older home. To help you understand your holding costs when selling your house in Concord, CA, read on as we explore how to calculate them.
Mortgage, Taxes, and Insurance
Your mortgage, taxes, and insurance are some of the most significant drains on your profits. You can start by adding up your monthly payments for these expenses and multiply them by the estimated time until closing. You can also ask for assistance from professional investors like Kevin Roberts at WeBuyHousesCountywide.com. These investors can provide you with a detailed comparison of what you could profit by listing vs. a direct sale so you can make the best decision for your situation.
It’s standard practice to leave the utilities on during the listing and a few days after closing for final inspections and walkthroughs. As such, you need to add this amount to your holding costs. Kevin Roberts and his team at WeBuyHousesCountywide.com can save you from carrying this extra load, and they never charge commissions.
To keep your property’s curb appeal at its peak, you need to keep up with maintenance work and expenses like lawn care, adding another cost to your holding costs calculations. By buying your house directly, investors like Kevin Roberts can help you eliminate your maintenance costs and all of the work and worry.
If you need to travel to care for your property, you may pay airfare, lodging, or other transportation costs or a management fee for someone to care for the property if you cannot travel. This is another cost you’ll need to calculate for an accurate picture of your holding costs. Professional investors like Kevin Roberts offer a guaranteed closing date, often in as little as a few days. They also have the flexibility to allow you to select the calendar date for your closing if you’re not in a big hurry.
Unexpected repair costs are always possible and should be another factor in calculating your holding costs. A professional inspection can help uncover hidden problems before the sale. Kevin Roberts and his team at WeBuyHousesCountywide.com buy houses as-is for cash, and they will take on the risks of making any repairs.
In summary, understanding your holding costs when selling your house in Concord, CA, is crucial. Professional investors like Kevin Roberts and his team at WeBuyHousesCountywide.com can help you calculate your holding costs without obligation. They work to make the process simple and easy for sellers, and they buy houses quickly and efficiently. For more information, visit WeBuyHousesCountywide.com or call Kevin Roberts at 925-587-9740.