Hidden Costs of Selling Your Edmonton Home: What You Need to Know

Introduction: Prepare for a Smooth Sale by Understanding Hidden Costs
Selling your home can feel overwhelming, especially when unexpected costs start piling up. If you’re planning to sell your home in Edmonton, knowing these hidden expenses ahead of time can save you stress, time, and money. To help you navigate these costs, I’ve created a video breaking down everything you need to know. You can watch it here or scroll down to explore the blog.

The 6 Hidden Costs of Selling Your Home in Edmonton

1. Realtor Commissions

When selling your home in Edmonton, realtor commissions are often the first expense that comes to mind. The typical structure here is 7% on the first $100,000 of your home’s sale price and 3% on the balance, which is split equally between the buyer’s agent and the seller’s agent.

While this might seem significant, these fees cover critical services such as expert pricing, marketing, and negotiation, ensuring your home sells quickly and at the best possible price. For example, on a $400,000 home, commissions would total $16,000, with each agent receiving half.

Pro Tip: Working with the right realtor can maximize your ROI, making these fees more than worth it.

2. Staging and Presentation Costs

First impressions matter. Homes that are beautifully staged sell faster and for more money. I work with a professional stager and cover the cost of a décor and decorating package for all my clients. This includes an initial consultation and staging to highlight your home’s best features—at no additional cost to you.

For vacant homes, however, costs can be higher due to furniture rentals and moving expenses, typically ranging from $3,000 to $7,000.

A small investment in staging can lead to a significant boost in your home’s sale price. Imagine spending $2,000 on staging and selling your home for $10,000 more—it’s a no-brainer.

3. Pre-Inspection and Repairs

Conducting a pre-inspection can help identify potential issues before they scare off buyers. Pre-inspections typically cost between $400 and $700 but provide peace of mind.

Repairs or upgrades, such as replacing outdated fixtures or patching up small damages, can range from a few hundred to several thousand dollars. Focus on improvements that offer the best return, like fresh paint, updated flooring, or minor landscaping.

4. Legal and Closing Costs

Legal fees are another necessary cost when selling a home. In Edmonton, real estate lawyers typically charge between $1,750 and $3,000 to handle paperwork, title transfers, and other critical closing documents.

There may also be mortgage discharge fees when paying off your existing loan. These fees vary, so I recommend contacting your mortgage broker or lender for specific details about your situation.

Finally, adjustments for property taxes and utilities will need to be settled to the closing date, but your lawyer will assist you with these calculations.

5. Moving Expenses

Moving can be an expense that sneaks up on you. Local moves can cost between $1,000 and $2,000, while long-distance moves may reach $5,000 to $10,000.

To save money, declutter before listing your home—less to pack means fewer moving costs and a cleaner look for buyers during showings.

6. Potential Carrying Costs

If your home doesn’t sell immediately, you may have to carry costs such as property taxes, utilities, and mortgage payments. These expenses can quickly add up, especially if you’ve already purchased a new home.

For a $400,000 home, carrying costs can average $1,500 to $2,000 per month. Pricing your home competitively and working with an experienced agent can minimize your time on the market.

What’s Next? Let’s Make Your Sale Seamless

Selling your home doesn’t have to be stressful when you’re prepared for the process. By understanding these hidden costs, you can approach your sale with confidence.

Want to learn more? Check out my full video on hidden selling costs here, where I go into even more detail. Don’t forget to subscribe to my YouTube channel for tips, tricks, and real estate advice tailored to Edmonton homeowners. Visit my YouTube channel to stay updated!

Boost Your Sale with Confidence

When you’re ready to sell your Edmonton home, I’m here to help. From staging and marketing to pricing and negotiation, I’ll create a custom strategy that works for you. Contact me today to schedule a consultation, and let’s make your home sale as smooth and profitable as possible.