By Kaitlyn Watson
When you begin to look into the percentage of your home’s final selling price that you will be spending in order to get to that point, it may feel unattainable in your current financial situation. As of 2021, the median price of a single family home in Houston is $295,000 according to the Houston Chronicle.
Typically, homeowners can expect to spend 10% of the overall selling price on fees and preparations necessary to sell their home. For people in situations such as inheriting a home suddenly or dealing with flood damage in a home, dishing out an extra $29,500 while in need of financial relief can become nearly impossible.
When already in financial distress, bringing your house up to your potential buyers’ standards when selling your home can turn into an unnecessary financial burden on you and your family. To break down the cost of selling your home in the Houston, Texas area, you must first look at the average prices of home improvements that you may need or want to get a higher value on your home.
As these home improvements are drastic changes to your home meant to significantly increase the value, they come with a hefty price tag. The estimated cost of adding a swimming pool can fluctuate easily in a place as diverse as Houston, but the final price of this major upgrade can range from $5,300 to $28,450 depending on the area and type of pool you are installing.
If you are considering adding a bedroom to your home’s layout, you can prepare for a grand total reaching $34,748 if your plan is to have an average sized bedroom of 219 square feet. Similarly, adding a full bathroom into your home can reach heights of $35,000.
Most people value updating their kitchen before anything else in their home as it has been branded as the “heart of the home,” or the “most important room in the home,” for many people who live a fast paced family lifestyle that is more common now than in past decades. A full remodel of the kitchen may be the first priority when prepping a home to sell on the market, and this can cost all the way up to $37,786. While it is a crucial piece of the home, this may not be a feasible expense that everyone looking to sell their older homes can manage.
After your home has undergone any large construction projects and necessary maintenance, you will be faced with the obstacles that will appear when it is time to put it on the market. These added fees may include working with real estate agents and paying to have your home professionally staged.
While homeowners have the free will to decide against some of these expenses that they find unnecessary, they might find themselves facing a financial hit in the long run with the selling price. When the semantics are weighed, not having your home staged may fetch you a lower selling price when the deal is finally closed. While you avoid the financial hit directly by opting out of having your home staged, it may become a less noticeable disadvantage in the end.
If you are looking to sell your home in Houston, Texas, for reasons of speed and necessity, you may be more interested in alternatives to putting your house on the traditional real estate market. If looking to sell fast and for cash, or just to avoid the aforementioned obstacles that can turn into significant expenses, Texas Home Buyers is the right home selling solution for Houston homeowners.
Texas Home Buyers specifically buys homes in any condition in order to help our sellers avoid all of the headaches typically associated with selling a home. Our home buying capacity is high while still being a local company run by Texans, for Texans. When it comes to selling your home for a legitimate cash offer while working with one of the fastest closing companies in Texas real estate, Texas Home Buyers is the right solution for you.
Contact us here.