The True Cost of Selling a Home in 2024

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The year has been strange for property owners in the United Kingdom. The market remained tepid, with even promises of fresh house building from the new government failing to stimulate a sell-off. With few properties on the market, now is as good a time as ever to sell. But what is the true cost of selling a home in 2024?

Estate Agent Fees

Estate agent fees can vary, but they will probably take up a large chunk of the sale. They can start from the 1% mark and travel to the 3.6% level on the higher end. When you approach an average high-street agent from a well-known company, it will be about 1.5% with a no-win, no-fee clause attached. These fees should include VAT, but make sure you double-check. You can also attempt to negotiate the price. 

There are free agencies online, but you need to look through them carefully. They may have small print that means you pay a flat fee, or they may dispense with taking care of any legalities. However, there are some who will take on the task of selling your home totally free of charge. This is all done online, and the home is presented to a range of pre-qualified buyers. Astonishingly, this also includes any legal fees. 

Conveyance Fees

Conveyance fees are the legal costs you pay for selling a home. This includes exchange contracts and much of the paperwork. Conducted by a solicitor, these fees can also vary in their scope. More confusing is that some use a percentage, while others charge a fixed fee. 

Luckily, these fees are cheaper when you sell than when you are buying. The cost will vary depending on the complexity of the deal. Therefore, if you already have a mortgage or the property is leasehold, the price may increase.

Energy Performance Certificate and Removal Cost

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After this, two more big factors influence the cost. The first is an energy performance certificate, which you must provide. In fact, you cannot legally put your home on the market until you have one. Once again, the cost of this varies depending on the house itself, such as how many bedrooms it has and what type of house it is. You can expect to pay anywhere up to £120. 

Removal costs are another cost that can fluctuate. This is dependent on how far you are moving and how many possessions you are taking with you. The location you are based will also have an impact, with fees higher in London and the south. The national average is around £1,332.03 for a three-bedroom house. You may want to rent a van and attempt it yourself, but this is a lot of work, and professionals will have equipment that makes it faster and safer. 

Aside from this, costs are based on things such as cleaning and renovating the house ready for sale. You may want to get a professional photographer to showcase it. Once complete, budget for an estate agent, conveyance, moving, and energy efficiency, then put your house up for sale.