Selling your home is an exciting venture, often accompanied by dreams of a fresh start and a tidy profit. However, many first-time sellers in Tunbridge Wells are surprised by the hidden costs that can sneak up during the process. Let’s explore these expenses so you can plan ahead and sell with confidence.

Conveyancing Fees:
Legal work is a must when transferring property ownership. Solicitors or licensed conveyancers will charge for their services, either as a fixed fee or a percentage of the sale price. It's crucial to shop around for quotes, but ensure you choose a reputable and experienced professional to handle your transaction smoothly.

Energy Performance Certificate (EPC):
Before you can market your property, you’ll need an EPC to show how energy-efficient your home is. This certificate typically costs between £60–£120, depending on your property and provider.

Mortgage Exit Fees:
If you’re planning to pay off your mortgage early, be aware of potential exit fees or early repayment charges. Check your mortgage terms to understand any costs you might incur.

Removal Costs:
Moving can be costly, whether you hire a professional removal company or rent a van. Consider these expenses, especially if you need packing services or storage.

Property Repairs and Improvements:
Investing in minor repairs, cleaning, redecorating, or staging can attract buyers and enhance your sale price. However, these improvements require upfront budgeting.

Capital Gains Tax:
If the property isn’t your main residence, you might face Capital Gains Tax on any profit. Seek advice if you’re unsure about your tax obligations.

By understanding these hidden costs, you can budget effectively and avoid unwelcome surprises. And remember, if you need expert guidance, we're here to help you navigate the selling process with ease.

 

 

 

If you need advice and help on buying or selling a property, please contact us to speak with one of our award-winning team who will be able to help you.