Top Tips for Saving Money During a House Sale

We all know that buying a house is expensive. However, what we often don’t consider is how much it costs on the other end. Selling a house can burn a hole in your finances, and if you’re not careful, you can significantly eat into the amount you have to put towards your next home – and cause yourself a lot of stress. 

The good news is that you can save money at almost every stage in the process. By staying switched on, you may end up with thousands more pounds than anticipated, while shifting your property.

Use a no-fee estate agent

To sell a house, the average estate agent in the UK according to the HomeOwners Alliance, will charge 1.42% of a property price – and that’s before VAT. Some estate agents will charge a lot more, sending your sales bill into a five-figure sum if you’re not careful. 

While you can negotiate with your estate agent to bring their fee down, if you’re confident that you have a hot property on your hands, you can consider a no-fee estate agent. Services like Purplebricks operate by offering packages with add-on services, but which are free at the base level, allowing you to list your property for nothing. Be aware, though, that doing this may limit the reach of your property to potential buyers. 

Employ a home-buying company

Using a home-buying company instead of an estate agent makes a surprising amount of sense. Businesses like We Buy Any Home allow you to sell your property quickly, offering a speedy free cash offer and allowing you to receive funds in as little as 7 days. 

Home-buying companies may give you a slightly lower valuation than other selling methods. However, a speedy sale may turn out cheaper in the long run, once you factor in estate agent and surveying fees and the potential cost of maintaining your property when it’s on the market. Plus, you’ll save a lot of time. 

Find your own conveyancer or surveyor

Estate agents will often suggest conveyancers or surveyors, but this can come at a cost. These individuals or companies may charge a higher fee for a captive audience, with any referral fees passed on to you as the customer. 

Remember: You don’t have to go with the options offered, and finding an independent conveyancer or surveyor may save you hundreds of pounds. Employing an independent service also gives you more dialogue and control over the process. 

Avoid the temptation to use decorators

If you’re sprucing up your house for sale, it’s tempting to take the stress out of it by paying someone. However, this is pretty pricey. As per Checkatrade, painter-decorators cost £6,000 on average to paint a 5-bed house in the UK, and that’s before you get down to specifics.

So, save the money and roll your sleeves up. Planning ahead to decorate and fix anything broken in your home can reduce your overall loss, and make your house more appealing.

Selling a property may be stressful, but it doesn’t have to be massively expensive. While some costs can’t be avoided, others can be reduced massively – as long as you’re willing to do a little bit of legwork yourself.