How much does it cost to sell a house?

Understanding the Costs Involved in Selling a House

Selling a house in the UK can be an exciting, yet daunting process. There are several costs to consider, which can sometimes come as a surprise to first-time sellers. This blog post aims to shed light on these costs, helping you to budget effectively and navigate the process with ease.

The Estate Agent’s Fee

The first cost that comes to mind when selling a house is the estate agent's fee. This is typically the largest expense and can range from 0.75% to 3.5% of the selling price. The percentage may seem small, but considering the average house price in the UK is £250,000, it can quickly add up. For example, a 1.5% fee on a £250,000 property is £3,750.

Online vs High Street Agents

High street estate agents usually charge a percentage of the selling price, while online agents often charge a fixed fee. This can range from £99 to over £1,000, but it's important to note that you may have to pay this fee regardless of whether your house sells or not.

Conveyancing Fees

Conveyancing is the legal process of transferring ownership of a property. Conveyancing fees cover the cost of a solicitor or licensed conveyancer and can range from £500 to £1,500, including VAT. These fees also cover the cost of legal searches to ensure there are no local plans or problems that could affect the property's value.

Energy Performance Certificate (EPC)

It's a legal requirement to have an Energy Performance Certificate (EPC) when selling a house in the UK. An EPC rates the energy efficiency of a property and costs between £60 and £120. If your EPC is still valid (they last for 10 years), you won't need to purchase a new one.

Removal Costs

Once your house is sold, you'll need to budget for removal costs. This can vary depending on the distance of the move and the amount of stuff you have. On average, removal costs in the UK can range from £300 to £600.

Additional Costs

Other potential costs include optional extras like professional cleaning, which can cost around £20 per hour, and staging your home for viewings, which can range from £20 to £50 per hour. Additionally, if you're buying a new home, you may need to consider Stamp Duty, survey costs, and mortgage arrangement fees.

In Conclusion

While the process of selling a house comes with its costs, being aware of these and budgeting accordingly can make the process less stressful. Remember, costs can vary significantly depending on your property and location, so it's always best to get a range of quotes and consider all options before making a decision.