Have you ever heard about a Houston home seller who sells at a good price but still makes a loss? This is exactly what happens if you can’t manage your holding costs. Don’t let my home stay on the market for a long time period because the longer it stays there, the more costly it becomes.
It’s easy to avoid settling your holding costs in case you didn’t know. Just reach out to us, and get yourself a great deal today.
We discourage sellers from working with retail homebuyers because the process is usually daunting. First of all, you have to look for one who already has some sort of financing. Private buyers often depend on banks and credit unions since buying a property in Houston, Texas, is not cheap. Only a cash buyer has the liquid cash to make you an all-cash offer.
Holding costs to look out for while selling my home in Houston, Texas
Is your property located in a private community? If it is, that’s no good news as you’ll have to keep paying whatever dues you owe until that day when your name will be struck off the title deed. HOA fees are often high in most neighborhoods and change rapidly. So make sure you add this cost to your budget if you want to sell on your own or work with a real estate agent.
No, we are not talking about the regular repairs that you’ll have to work on before listing my home in Houston, Texas. Chances are you’ll have to work on a different major repair while you wait for your real estate agent to find a buyer with the right offer. For instance, the water heater might blow up. This is something that happens from time to time. Such repairs can be costly but you’ll have to hire a professional to fix them if you don’t want to sabotage the sale.
This is surely a no-brainer. You don’t have to be told how significant the maintenance work is while the property is listed on the MLS. You’re always advised to set aside at least one percent of the home’s value for maintenance and small repairs. That way, you won’t be blindsided by such unexpected costs when you’re ready to put the property on the market. Also, the faster you sell the less maintenance will be required.
We call this the necessary evil that you’ll have to deal with. Depending on the policy and property, it will quickly eat into whatever you earn and maybe leave your pockets dry. You’re responsible for your property’s insurance until you successfully close the deal.
Other honorable mentions include the utilities, mortgage payments, and property taxes. If you desperately want to learn more about them, call us today. We will answer all your questions and even give you options that you never knew existed. So don’t hesitate calling or messaging us.