When it comes buying and selling a property, money always matters. When it comes time to sell your home and move house, you want to maximise the profit you make from the sale. What are the main things that can determine the profit you make from selling a house?
Preparation for sale
When selling your property, you need to first think about the home sale price. If it’s too high relative to the condition or desirability of your property, it might put off potential buyers – remember that a little profit is much better than no sale at all. Your current mortgage balance will also come into play, if you haven’t been able to pay off your mortgage before selling. The current home equity you have, as well as your mortgage situation, will affect your ultimate profit.
The cost of selling is also something you need to consider. Capital gains, closing costs, and assorted estate agent fees will need to be taken out of your net profits before you can begin to think about profit. When you’ve paid off all your costs, your profit will become clear.
How can you maximise profits?
To some degree, you’re at the mercy of the market, but there are some things you can do to give yourself the best chance of making a good profit on the sale of your home. One thing to do is consider using an online estate agent, rather than traditional high street estate agents.
Online estate agents are still real estate agents who can offer you all the same facilities and services of their high street counterparts. The difference is generally lower estate agent fees, due to the lower overheads, as well as a potentially broader audience to market your home to.
How much profit will I make from selling my house?
If you want to sell your home quickly, consider contacting UK Property Cash Buyers. We’re fully regulated by the Financial Conduct Authority and can offer you a stress-free path to selling your property. We’ll make you an offer on any property in any condition, and if you’re happy with the offer we’ll aim to close within just 7 days – contact us today to learn more.