Calculating holding costs is an essential step in determining the true profits of selling your house in Atlanta. It is crucial to take stock of all the recurring expenses associated with holding your property while it’s on the market, such as mortgage payments, taxes, insurance, and maintenance costs. For those who need to relocate before the sale of their primary residence, additional costs may be incurred. These holding costs can add up quickly while you wait for your house to sell, potentially eating into your profits.
If you have an older home, it’s important to factor in the possibility of unexpected repairs that may arise during the selling process. By understanding your holding costs, you can gain a realistic understanding of your profits from the sale. For example, if your holding costs amount to $2,500 per month and it takes three months to sell your house, your total holding costs for the sale would be $7,500.
Mortgage, Taxes, and Insurance
Knowing the average days on the market for similar properties can help you estimate the time it will take to close a sale when listing your property on the Atlanta real estate market. To calculate your holding costs while waiting for the sale, add up your monthly mortgage, taxes, and insurance payments, which are typically the biggest expenses. You can then multiply this total by the estimated time until closing. For those looking to sell quickly and for the highest possible profit, professional investors such as MarKey Home Buyers offer a transparent comparison of what you could profit by listing versus a direct sale, so you can make an informed decision.
Utilities
Real estate agents advise keeping the utilities on during the listing period and a few days after closing to accommodate inspections and walkthroughs. This additional cost must be factored into the holding costs when selling your Atlanta house. Professional investors, such as MarKey Home Buyers, eliminate this burden for sellers. Moreover, they do not charge commissions, which means you can save even more money. With MarKey Home Buyers, you can sell your house directly and achieve a faster closing without worrying about additional expenses.
Maintenance
Maintaining the curb appeal of your property is crucial when it’s on the market for sale, and this requires regular maintenance work and expenses like lawn care, which adds to the cost of holding your property while waiting for a sale in Atlanta. Professional investors, such as MarKey Home Buyers, can help you eliminate these costs by purchasing your property directly, taking away all of the work and worry. Furthermore, the team at MarKey Home Buyers includes industry specialists who can help you through the entire selling process, from start to finish, without any hidden fees or closing costs.
Travel
Calculating the holding costs when selling a house in Atlanta involves considering additional expenses such as travel and lodging costs or management fees. If you cannot travel to care for the property, you may need to pay someone to manage it, adding to your overall holding costs. However, professional investors like MarKey Home Buyers can help eliminate these costs by offering a guaranteed closing date in as little as a few days. Moreover, the flexibility of MarKey Home Buyers allows sellers to choose the closing date that works best for them, even if they are not in a hurry.
Repairs
When selling a house in Atlanta, it’s important to consider unexpected repair costs as part of your overall holding costs. Even if you’ve made necessary repairs to prepare your property for the market, a professional inspection may uncover hidden issues that could affect the sale. Depending on the severity of the problems, you may need to invest time and money in repairs or disclose the issues to potential buyers and negotiate contingencies. Alternatively, professional investors like MarKey Home Buyers buy houses as-is for cash, taking on the risks and costs of any necessary repairs.
To accurately calculate your holding costs when selling your house in Atlanta, it’s crucial to consider all the factors, including unexpected repairs, travel expenses, maintenance costs, and utilities. Professional investors like MarKey Home Buyers can help simplify the process and provide a guaranteed closing date, often in as little as a few days. Additionally, the MarKey Home Buyers team includes industry specialists who can help sellers avoid hidden fees and closing costs. Contact MarKey Home Buyers to learn more and explore their investment property inventory. Call MarKey Home Buyers at (404) 800-1291.