It is very eye-opening when you start to review all of the holding costs you will face when selling your older house with a Spartanburg real estate agent. Carrying the weight of the home you need to sell can lead some people into financial ruin. One reason you may face holding costs is that your home is sitting on the market for too long. This could be due to your asking price being too high, causing you to lose money in the long run. Or, your home doesn’t match to the surrounding properties or is out of style in the eyes of today’s buyers.
Expenses can add up very quickly when your older home listing sits for a long period and becomes less attractive to your potential buyers every passing day. Another cause may be that your buyer fell through, which happens more often than you may realize. This can be double painful to your wallet should you have already relocated, based on the deal closing.
Monthly Overhead
Utility bills that roll in like clockwork are included in the breakdown of the holding costs you will face when selling your Spartanburg house with a real estate agent. Agents can provide average days a house sits on the market, however, they can’t provide the date you’ll close on the property. This open-ended arrangement can quickly escalate into an extreme financial burden as the property lingers on the market for 90,120,180 days plus. And lets face it, older Spartanburg homes aren’t the most energy efficient. Even if they are smaller homes, they still consume a lot of energy to keep warm in colder South Carolina winter’s and cooler in those humid summer nights.
Insurance
Homeowners insurance is another necessity and must also be counted in the breakdown of the holding costs you will face when selling your house with a Spartanburg real estate agent. It just isn’t worth the risk to try to save money and many lenders require insurance, in addition to PIP mortgage insurance if you still owe a balance of more than 80 percent on your mortgage note. On average, homeowner insurance costs are roughly $50 monthly for your average older Spartanburg home.
Taxes
Even if you have a mortgage and an escrow to collect the property taxes and insurance, Spartanburg property taxes wait for no one and will continue to accrue while your house is listed. You can easily determine your monthly cost by dividing the annual bill amount, the taxes will be prorated and included in your closing. This is another expense in the breakdown of the holding costs you will face when selling your older house with a Spartanburg real estate agent.
House Payments
Your mortgage payments won’t wait for your buyer to come along, breakdown of the holding costs you will face when selling your older house with a Spartanburg real estate agent. Naturally, your lender will expect your payments to continue and if you start falling behind, that can impact your ability to sell your home easily. Most home buyers don’t want to deal with the issues that come along with past due mortgages, and quite honestly neither do Spartanburg real estate agents.
Repairs
It doesn’t matter if you live in Spartanburg or not, home repairs are a never-ending theme of homeownership that needs to be added into the breakdown of the holding costs you will face when selling your older house with a Spartanburg real estate agent.
In particular, as homes age repairs can literally drown you in unexpected expenses. If you are selling your older Spartanburg home and have already moved out, the aging process gets quicker when the house isn’t being used. And there is always the possibility an emergency issue could cause some serious repair needs or insurance claims. Think about if a pipe burst and no one is around to notice while the house sits vacant. Not only could this cause some serious water damage, but also the need for mold remediation which will put a hard stop on our ability to sell you Spartanburg home easily.
Upkeep
Maintenance also needs to be added to the breakdown of the holding costs you’ll face when selling your older house with a Spartanburg real estate agent. Maintenance must remain ongoing, especially when your home is listed and you want to attract buyers. If you’ve already moved, you’ll have to add travel expenses or pay someone to help you monitor the property and keep everything in order.
All of these costs can add up to thousands while your house is sitting on the MLS. Why wait any longer? Sell to House Hub Real Estate Solutions instead! Save yourself the time, energy, and hassle of listing your home, we offer a quick and guaranteed closing date! You can forget about the utility bills, with no more homeowners insurance, property taxes, or mortgage payments to make. Repairs and maintenance will no longer be a concern. Call 864-272-5400 today or send us a message to learn how we can help you!