Category Archives: House & Home

How Much Does It Cost To Drill A Well

A water well at home can mean self-sufficiency when it comes to water supply. This is often ideal in most rural areas where there is no access to a water system. However, drilling a water well is also gaining popularity even in urban areas so that homeowners can call for a cheaper supply of water. However, it is to be noted that the cost of drilling a well does not come cheap. Read on and find out how much does drilling a water well cost.

Typical Cost Of Drilling A Well

The average cost of drilling a well is $12 per foot.

Meaning, if you plan to have a 100-foot well, expect to pay around $1,200 for it.

Included In The Price Of Drilling A Well

The price includes the contractor’s labor fees, rental of equipment, and drilling.

Consider These Factors

Depth. The depth of the water well will hugely impact the cost of drilling the well. For instance, shallow wells that are less than 25 feet in depth are cheaper because they can be made manually without requiring expensive tools and equipment. This is without mentioning yet that shallow wells are faster to finish. On the other hand, other wells that are 400 feet deep can mean a lot of money. If we calculate the cost of drilling a well at $12 per foot, you can expect to pay $4,800 for the whole drilling job.

Type of ground. Depending on your location, the ground to be drilled can be sand, solid rock, or clay. Each type of ground has varying difficulties when it comes to drilling. Hence, the price of drilling a well can be dependent on how difficult the ground material is to drill. For instance, solid rock grounds can be harder to work on, which means a higher price in the end.

Contractor. Different well drilling contractors offer different pricing for this kind of job. Contractors’ prices usually depend on the geographical location and their expertise and experience in the field.

Additional Costs

Casing. When building a well, casing is very important as it prevents the bedrock from caving in as well as blocks the contaminants from entering the well. The cost of casing is usually $12.50 per foot. This can be cheaper or more expensive depending on your choice of material. The most popular material for piping is galvanized steel.

Head. A decent well head is also necessary to complete the project. This can mean an additional cost of $100.

Other accessories. The pump is the most important accessory for very deep wells and is the most expensive item as well. A pump can cost you around $350 to $600. Other accessories you may need include PVC water line piping, fittings, and couplings.

Permits and tests. Some states may require permits, testing, and registrations when drilling water wells. The price varies from state to state and city to city.

Complete water system. If you intend to build a complete water system in line with building your water well, additional expenses are to be expected. Since a lot of piping, electrical wiring, and control system need to be done, you can expect to spend additional $3,000 or even more than $20,000, especially for more complex water systems.

price of drilling a well
Photo by Best Practices Research Alliance

Tips Before You Decide To Drill A Well

Make sure to hire only licensed water well drilling contractors in your area. You can find a lot of resources online depending on the state where you live. The National Ground Water Association (NGWA) is a good source of licensed industry professionals. You can search for NGWA member certified contractors in this lookup tool. If you are in Indiana, Michigan, Illinois, Ohio, or Kentucky, you can also consider using this tool for licensed water well drilling contractors.

Your choice of water well driller must not only be certified and licensed but also meet your personal needs. WellDrilling.com has this very useful article on how to choose the perfect well driller.

Find the right location for the water well. Understand that not all areas can be ideal places to hold a well. Hence, pick the right place that is accessible and has substantial water availability. You can check this FAQ sheet from ThompsonWaterWells.com to help you look for the perfect location to drill a well.

Check the local regulations of the state or city you are in. Take note that some states require you to get a license first before you can drill a well. You can check out the codes and standards in terms of the construction of public and private wells per state at the Water Systems Council.

How Much Do Movers Cost

True enough, hiring a mover for your relocation is more expensive as compared to doing the entire job yourself. However, more often than not, the extra fees you pay for a mover are all worth it in exchange for your comfort, convenience, and peace of mind. Find out how much a mover costs these days.

Typical Cost Of Movers

The typical cost of a mover is $25 to $125 per hour.

Included In The Price Of Movers

The price includes one mover and all necessary services such as loading, transporting, and unloading of all your household goods, which are all calculated per hour.

Consider These Factors

Number of contents and size of your unit. It follows that when you have a large unit, there are a good number of contents that need to be taken care of. This only means that more work is needed and more hours are required to finish the process. In some cases, the moving company will give you three or more movers at $25 per hour each. For instance, if you have a 900-square foot two-bedroom apartment, the whole moving will consume around four to six hours. Ideally, three movers are required to do the job for this size of relocation. If you do the math, this will cost you $300 to $400. For larger homes that need six or more movers covering eight to 12 hours, the cost can reach as much as $1,800 or even more.

Distance. The distance of your old home to the relocation site can also affect the cost of movers. Usually, the $25 per hour rate of local movers can only mean 100 miles. Cross-country moves can go from $3,000 to $11,000 or even more depending on the size of your unit, the number of household items to be transported, and the like.

Site situation. Most movers analyze a lot of aspects when pricing their services. If your home has stairs, the movers usually price higher since it is more difficult to load and unload stuff if you need to go up or down the stairs. Moreover, long and difficult roads to the relocation site can also affect the price of the movers.

Additional Costs

Most movers do not cover packing and unpacking in their prices. However, they can do the job for you at an extra fee or around $25 to $35 per hour. A lot of homeowners choose to pack the items themselves to save money. However, professional movers can guarantee proper packaging of all your items to ensure safety during travel. The packing materials will add to the cost as well.

Most movers charge extra for handling appliances such as plasma TVs and pianos as they are often harder to handle as compared to usual household stuff like clothes and other furniture items.

Getting insurance from the mover is a very good move when transporting items. This will give you an assurance that every item in your inventory is protected in cases of mishaps such as fire incidents, theft, and the like.

how much do movers cost
Photo by Moving Simplified

Tips Before You Decide to Hire Movers

Look for several licensed movers near you and study each of them in terms of reliability, efficiency, and credibility. In most cases, it will be helpful for you to look for referrals from family members and friends who have used the services of movers before. This Hiring a Mover Guide will help you in your search for the best mover to hire for your needs. TopMOvingCompanies.com also has an extensive list of resources to help you plan your move successfully.

You can use MoversDirectory.com for their database of moving companies by state.

Get price quotes from different movers. Study the coverage of their services and choose based on what you get in exchange for your money. Get free quotes using this moving calculator from Relocation.com. You can also check the American Moving and Storage Association website to get moving quotes from different professional movers near you.

Before closing a deal, make sure to have a written document regarding everything entailed in the move. This may include the number of movers, insurance policies, services offered, and the like. Check for additional fees that they may ask from you so you can always be prepared with additional expenses.

Schedule a move on weekdays as much as possible. This is true because most of the time, weekend moves are priced 20 percent higher.

How Much Does It Cost To Reupholster A Couch

Nothing beats the ambiance of a room better than a worn-out couch. If the upholstery seems to have failed the test of time, it may be time to reupholster a couch. However, is this the right move in the first place? A lot of people say that buying a new couch is a more practical option than trying to fix what’s broken. This article will help you get an idea on how much does it cost to reupholster a couch and will help you decide what’s best to do with the furniture.

Typical Cost Of Reupholstering A Couch

The average cost of reupholstering a sofa is $600 to $1,000.

Included In The Price Of Reupholstering A Couch

The price includes all works and materials for reupholstering the sofa including labor, fabric, and supplies. This price estimate, however, reflects a basic two-cushion couch. Hence, the price can be lowered when speaking of smaller furniture.

Consider These Factors

  • Size. The size of the couch has a lot to do with the price of the upholstery. This is true because the bigger the couch is, the more supplies needed to complete its upholstery. For instance, if your couch needs 15 yards of fabric and you have chosen a fabric priced at $35 per yard, you will have to pay for $525 for the fabric alone.
  • Fabric. What type of fabric do you want to get for your couch upholstery? The price of fabric range from $5 per yard to $180 per yard especially when speaking of silk and wool.
  • Design. Is your couch a basic one or a very intricate one? The more complicated the design is, the higher the price will become because it requires a lot more labor and effort to do the job with such kind of details in a couch.
  • Labor. The average cost of labor is $400 to $600. The labor costs usually increase depending on the amount of job that needs to be done on one couch. The older the couch is, the more work is needed. Moreover, the location of the upholstery service can affect the labor cost to reupholster a couch. Upholstery services renting their own places may price their services higher as compared to small-scale upholstery services doing the job at their own homes.
  • Shipping. The cost of shipping a couch is not a joke. This is especially true if you don’t have the proper vehicle at home to bring the sofa to the shop. The cost of shipping may range from $30 to $60 depending on how far you are from the location of the shop.

Additional Costs

  • Repair. If your couch is too old, there may be chances that its frames and paddings need to be repaired or replaced already. Usually, the upholstery service can do these jobs but require additional fees.

Tips Before You Decide To Reupholster A Couch

Make a measurement of the couch in terms of its height, width, and length. You need these figures to help find a good estimate on the cost to reupholster it.  Some upholstery services may need you to send an image of the couch before they can provide you with an estimate. In New York, Finger Upholstery requests just that.  You can also get a free estimate from Better Tex.

Once you have the estimates, decide whether it is practical to go on or not. If the cost to reupholster the couch will be more expensive than buying a new one, you may need to think about this choice over and over again. However, if the couch has some value to you, the price to reupholster the sofa may be worth it after all.

You may consider doing the re-upholstery yourself, especially if you have a very simple and basic couch there. This will save you from the cost of labor and shipping. Upholstery Resource has some good contents on DIY guides to reupholstering a couch. You can also check out Upholstery-Supplies-Guide.com to help you find the right supplies to get your DIY project started.

How Much Does An Inground Pool Cost

Having an inground swimming pool at home seems to be a good idea. However, before you dig into the ground and get this started, it is important that you know how much the overall cost of installing this kind of pool will cost. This is very important because the expenses involved in this project are not a joke at all. This article will give you an idea on how much does an inground pool cost.

Typical Cost Of An Inground Pool Cost

The cost of building an inground pool is definitely more expensive than getting an aboveground pool. However, the cost of inground pool still varies depending on several factors such as the size of the pool, the materials to be used, the design, the accessories, the location, and the contractor.

The price of an average inground pool is around $7,000 to $15,000.

The price can go higher depending on your options. For instance, vinyl-lined inground swimming pools will cost from $7,000 to $15,000, fiberglass pools will cost around $15,000 to $30,000, while concrete pools are priced from $20,000 to $50,000. If you choose to have the pool customized, the price can get a lot higher than this average pricing.

Included In The Price Of An Inground Swimming Pool

What are included in the price of inground pool installation are

  • the professional fees of design and labor
  • materials
  • the filtration system
  • and underwater lights

Contractors usually include the filling up of the pool in the installation prices as well. To make sure of the inclusions in the cost, it is best for you to talk with your contractor and confirm with them what are included in the price package they are offering.

Consider These Factors

  • Size. The size of the pool can usually determine what the price of the inground pool will become. The bigger the pool is, the higher the end price will become of course.
  • Materials. An inground pool can be built using different options including vinyl, fiberglass, and concrete. Vinyl is the least expensive of all inground pool materials. Concrete, on the other hand, is the most expensive as this material can possibly be shaped depending on your request. Though there are not much expensive materials to be used on concrete inground pools, the labor involved in building this kind of pool is very extensive. This justifies the higher price that comes with concrete inground pools.
  • Design. You usually have a choice on what kind of design your inground pool will become. However, the more complicated the design is, the more it can affect its price since this kind of project more likely needs more effort and labor. For instance, a small rectangular pool will probably cost the same or even cheaper as compared to an odd-shaped smaller pool.
  • Location. Depending on which part of the country you are in, the price of an inground pool can be higher or lower than the average price. In fact, in some markets, concrete pools tend to be cheaper as compared to vinyl options. Check out with local pool contractors to ensure you get the correct estimates for your project.
  • Accessories. Fencing, diving boards, slides, and other safety features you wish to add in the inground pool can add up to the price of the installation. This is also true for other ornamental projects in and around the pool such as landscaping.
  • Maintenance and utility costs. The price of an inground pool does not end with installation. In the long run, you have to spend on the maintenance as well as utility expenses, which include cleaning, heating, and the like.

Additional Costs

  • Accessories you wish to install in the new pool will mean an added expense for you. In general, a lot of homeowners tend to spend about half or more of the actual pool price in adding accessories such as fences, diving boards, safety gears, landscaping, and the like. For a $50,000-worth inground pool, some pay up to $40,000 for accessories alone.
  • Pool inspections may also add to the overall cost of building an inground pool.
  • Pool maintenance in the long run will also add up to your expenses. The same is true for utility fees such as heating expenses.

Tips Before You Decide to Have an Inground Pool

Get price quotes from various contractors so you can get a good idea of how much your average expenses will be. This will also help you find the best contractor to close the deal with. CustomOutdoorTrends.com has a swimming pool  cost calculator that can help you get an estimate.

Find a good contractor that will offer you the best service and the best price. Don’t settle for a contractor simply because they offer a service that is cheaper than the rest. More often than not, it is best to check the contractor’s credibility, reliability, and quality of service. A more practical approach when choosing a contract is to check for customer reviews. Find previous customers of the contractors so you can see how well they work and what the quality of their inground pool is. The Association of Pool & Spa Professionals has a listing of qualified professionals you can trust for your inground swimming pool project.

Decide on the kind of pool you need to get in terms of type, size, and shape. If you are looking forward to a more affordable option, remember to decide on an average size and shape of swimming pool. As you know, a customized and complicated pool design can mean a lot of money.

Check with your local safety board in terms of what kind of pool is permitted in your area. Take note that in some areas, the installation of vinyl pools may be prohibited.

Talk with the contractor about the inclusions of the package they are offering. Most contractors offer different things in a package. Make sure you check out for important inclusions such as materials, service fee, labor, and filtration system. Also, check about the warranty of the inground pool to protect your investment in the long run.

How Much Does It Cost To Move A Mobile Home

The cost of moving a mobile home might be more than you expect. However, don’t try to take shortcuts by hiring a handyman or someone who happens to have a duty pickup truck. You want to hire professionals. After all, this is your home we are talking about, and there are a couple of important and crucial moments that determine if the moving of your mobile home will be successful.

How High Are Prices of Moving A Mobile Home

shorter distances: $1,000 – $5,000

longer distances or more difficult cases: $5,000 -$15,000

another estimate is $5-$10 per mile

Included In The Cost of Moving A Mobile Home

a licensed moving crew that is insured, as your normal home insurance won’t cover damages during transport.

Permits from the Department of Transport to move your particular home, and an inspection of the home to see if it is in a good enough state to be moved.

The transporting truck and the driver, possibly a vehicle in front and behind the truck to signal that its carrying a wide load.

Deinstallation of plumbing and electricity, getting the home on wheels (one way or another) installation of lights on the back of the home, hook up plumbing and electricity,

Consider These Factors Affecting the Cost of Moving

Foundation. What the mobile home sits on, will be an important factor in determining the cost of moving a mobile home. If it sits on a slab, it will be easier (cheaper), whereas on pier blocks or soil will be more difficult.

Size. Double and triple width mobile homes are much more expensive if they need to be moved over the road, as permits and transport will be more difficult.

Weight. The heavier the home, the stronger the cranes and trucks need to be.

Distance. The further you want to move your home, the more expensive it is to move your mobile home. A general rule of thumb is that the cost is about $6-$10 per mile. Also, the mover needs permits from every state that the mobile home travels through.

Nature of the terrain. A flat and straight road is easier than a bendy road in the mountains. Also, the terrain where it will be placed can affect the cost. If the pickup and drop off point has a lot of space and is on concrete, it is easier for the crew to get your home in the right place.

Foundation. Can the mobile home stay on wheels or does it need a foundation?

Services. The services that need to be disconnected (power lines, plumbing, etc) and hooked up affect the cost. Normally, these are included in the cost, provided that the new services are already available at the new site. If not, expect to pay around 800 to 1500 dollars to have the water and power supplies reconnected.

local zoning laws. These laws affect the permits that can or cannot be attained, and at what price.

Additional Costs

  • If the mobile home is a bit older, it might need new wheels before it can be moved. Also the tow part needs to be in good condition, or replaced.
  • A double or triple wide mobile home will be more expensive.
  • You might need some repairs after your home is relocated. The materials used to build a mobile home are usually of lesser quality compared to a normal home, and in general anything that big that is moved, will suffer some damage during transport and installation.
  • There might be different regulations if you move to another state. Make sure you are aware of possible extra requirements that the house should meet.
  • Some things that you could do (or have to do) yourself, are (removing and installing) skirting, steps, airconditioning, etc.

Carafan statig ar werth, Morfa Bychan
Photo by Dogfael

Tips Before You Move A Mobile Home

  • Seek competitive bids from professional movers.
  • If you dont have insurance yet, it could be a good idea to get a home insurance in case something happens during transport.
  • get your permits to move a mobile home from the counties where your move it from and where you move it to.
  • There will be a breaking point where the moving costs won’t outweigh the value of the home anymore. If you are considering moving a long distance, it might be financially more attractive to sell the house.
  • federal or state employees who are relocated can get a certain amount of money for relocation purposes.

How Much Does It Cost To Render A House

If you want to render your house, you can either do it yourself or get a contractor to do it. However, just with any home construction, finding the right contractor can be hard. Besides quality and speed, the price is also one of the main factors. To give you some rough estimates, howmuchdoesitcost.com provides you with the estimate cost of rendering a house.

Typical Cost Of Rendering a House

The estimate cost lies around $5-$8 per square foot (or $50-$80 per square meter).

small house $5k-$8k
medium house $8k-$12k
large house $12k-$20k

Included In The Cost

  • cleaning
  • material
  • labor
  • possibly some small repairs

Consider These Factors

  • This estimate is for a red brick house. A weatherboard house would be more expensive, since one needs to clad the walls with something like polystyrene first. Other wall types are masonary, blueboard, hebel, etc.
  • The overall condition of the wall also affects the costs.
  • Repairs can be hard to color match.

Additional Costs

  • If you need repairs to the wall before rendering can be done, the price of the project can go up quite a bit.
  • If the bricks are rough or other types of wall are not smooth, extra preparation is needed. This can increase the cost by 50 percent.

Tips Before Getting Your House Rendered

Take a look at the other houses in the area. If your house is the only one with rendering, it might fall out of tune.

Some future buyers might wonder why it is rendered (they ask themselves: “is it hiding anything?”) therefore, it could pay off to get an appraisal or inspection statement right before you render it.

Ask for warranty policies by the contractor. 10+ years of warranty is not uncommon.

You can find a Stucco contractor at TheBlueBook.com.

 

How Much Are Closing Costs When Buying A House

Closing costs are also known as settlement fees. These fees need to be paid when real estate is conveyed from the seller to the buyer.

How Much Are Closing Costs On House Purchase

The average closing cost is $3,020. A normal range would fall between 2,700 and 4,000. Another practical estimate is about 3 to 5 percent of the loan amount.

New York is the most expensive state for closing costs, whereas Arkansas is the cheapest. The table below lists the highest and lowest closing costs across the United States.

Top 5 highest Closing Costs Top 5 Lowest Closing Costs
New York Arkansas
Texas North Carolina
Utah Iowa
California Montana
Alaska Winsconsin

 

AVERAGE CLOSING COSTS PER U.S. STATE (2010)
Alabama $3512 Montana $3298
Alaska $4327 Nebraska $3608
Arizona $3950 Nevada $3471
Arkansas $3007 New Hampshire $3358
California – LA $4406 New Jersey $4110
California – SF $4566 New Mexico $3480
Colorado $3366 New York $5623
Connecticut $3391 North Carolina $3255
Delaware $3649 North Dakota $3800
Florida $3987 Ohio $3985
Georgia $3604 Oklahoma $4254
Hawaii $3442 Oregon $3333
Idaho $4077 Pennsylvania $4236
Illinois $3505 Rhode Island $3972
Indiana $3465 South Carolina $3552
Iowa $3261 South Dakota $3363
Kansas $3615 Tennessee $3483
Kentucky $3341 Texas $4708
Louisiana $3897 Utah $4605
Maine $3432 Vermont $3372
Maryland $3402 Virginia $3883
Massachusetts $4025 Washington $3607
Michigan $3804 Washington DC $3685
Minnesota $3920 West Virginia $3637
Mississippi $3335 Wisconsin $3303
Missouri $3356 Wyoming $3922
survey done by Bankrate.com

Included In The Cost

These fees generally consist of 4 different settlement costs, being the lender fees that come with the mortgage loan, the government fees and taxes, 3rd party fees for inspection and certifications, and escrow and interest fees.

A typical ‘close’ faces the following fees:

  • Attorney fees
  • Title Service Costs
  • Recording Fees
  • Document or Transaction Stamps or Taxes
  • Survey Fee
  • Brokerage Commision
  • Mortgage Application Fees
  • Appriasal Fees
  • Inspection Fees
  • Home Warranties
  • Pre-paid Property Insurance
  • Pro-rata Property taxes
  • Pro-rata Homeowner Association Dues
  • Pro-rata Interest

Consider These Factors

These estimates are based on a $200.000 purchase mortgage for a house in the city by a borrower with 20% down payment and excellent credit rating.

It is difficult for buyers to know exactly which costs are mandatory and which are straight unnecessary. Lenders, brokers and other mortgage parties may try to overcharge a borrower by including a variety of fees in their services. Be warned for this malpractice.

Mortgage lenders are required by the Real Estate Settlement Procedures Act to provide you with a so called ‘good faith estimate’ to give you a better idea of the settlement costs you can expect to face. This GFE needs to be given to you within 3 business days of the submission of your loan application.

Tips Before Closing The Deal

  • Many fees and charges are negotioable with the lender, especially administration fees and the like.
  • When going over the closing fees, take special interest in fees called ‘administration’, ‘document preparation’, ‘payment processing’, or ‘funding and review’. These kind of fees are kind of arbitrary and the lender might be convinced to lower or completely get rid of these fees when you ask kindly.
  • You can save some handsome money by closing near the last day of the month, because escrow services can hold daily interest for every day from closing until the end of the month.
  • When the housing market favors the buying party, a buyer could ask the seller to pick up part of the closing costs, or even all of it.

If you want to read more about mortgage settlement costs, visit The US Federal Reserve Board.

How Much Does It Cost To Sell A House

In an April 2011 Gallup poll, majority of Americans indicated they see a buyers’ market in the housing industry. Sixty nine percent of those interviewed think now is still a good time to buy a house – a sentiment that has prevailed since 2009. In a buyers’ market sellers usually have a difficult time to set the prices they want to set. Buyers dictate the general level of prices because of the glut of homes being put up for sale. Still, sellers have no reason to be discouraged. A recent study by Pew Research Center showed that up to 81 percent of Americans think home ownership is their best option for a long-term investment. To take advantage of this perception, sellers will have to be savvy in making their homes stand out and they should know the costs involved in selling a house to be able to realize a profit.

Typical Cost to Sell A House

The typical cost for selling a $250,000 house ranges from $16,600 to $37,700 if you involve the services of a realtor. If you decide to sell your home yourself (for sale by owner or FSBO), the costs would range from $6,600 to $22,700.

A realtor is your most expensive option and you give up control over the selling process. It, however, offers you a greater chance of success. The For Sale By Owner route is your least expensive option. You have control of the selling process but attracting serious buyers could take you a longer time.

sold!
Photo by nettsu

Consider These Factors When Selling A House

The biggest factors that will have an impact on your selling costs rests on your decision to sell it yourself (FSBO) or engage the services of a realtor. A realtor usually gets 4 percent to 6 percent of the sale price. Deciding to sell the property yourself will significantly reduce your selling costs. However, there are a number of challenges facing an FSBO seller – one of these is that it could take a longer time to make a sale. Closing expenses will also have an impact on selling costs – transfer taxes, property taxes and legal fees related with the closing and finalizing of the sale will range from 2 percent to 4 percent of the sales price. Another factor is the amount of repairs needed to fix your home to make it more appealing to potential buyers. This would be dependent on the age of your house and its current condition. A further factor is the cost of moving or relocating. If you will relocate to another house nearby it probably won’t cost you much. But, if you are moving cross country the cost could be significant.

Included in the Cost

A realtor’s commission is usually between the range of 4 percent to 6 percent of the sale price. If you opt to sell the property yourself, you get to keep the commission. For a $250,000 home, a realtor’s commission will range from $10,000 to $15,000. This would be the amount you will save if you decide to go the FSBO route. Closing expenses – transfer taxes, property taxes and legal fees related with the closing and finalizing of the sale, will range from 2 percent to 4 percent of the sales price, or $5,000 to $10,000. Home inspection will set you off by an estimated $300. A minor, pre-sale facelift can be in the $300 to $400 range. Items included here are: new paint, hardware, carpet for living room floor and landscaping service. Moving and relocating costs used in the example is in the $1,000 to $12,000 range.

The table below shows how the details of the costings:

Home Sale Price: $250,000.00

Item Using Realtor Services
Lower Range Upper Range
Realtor’s Commission (4%) $10,000.00 (6%) $15,000.00
Closing Costs (2%)  $5,000.00 (4%) $10,000.00
Home Inspection (estimated) $300.00 $300.00
Pre-Sale Facelift (estimated) $300.00 $400.00
Moving Costs (estimated) $1,000.00 $12,000.00
Totals $16,600.00 $37,700.00

The figures in the table relate to the cost range if the services of a realtor is used. If you decide to sell your home yourself (for sale by owner or FSBO), the costs range would be less the realtor’s commission, or,  from $6,600 to $22,700.

Additional Costs To Selling A House

If the house is still under mortgage, whatever is the remaining principal balance will have to be deducted upon the sale of your home. Using the above example, let us say that $50,000 is still being owed by you on your current mortgage. That amount will have to be deducted  from the $250,000 sales price. Additional costs may also be encountered if extensive repairs are needed around the house (that is, if the pre-sale facelift budget estimate is not enough). You may have to pay an expert for a detailed estimate of the repairs needed.  For more expensive fixes, you can always negotiate with the buyer at the time of sale.

Another additional cost could be encountered when marketing the property to buyers. Brokers would usually list your home on the Multiple Listing Service (MLS) so that other brokers can help sell it. MLS listing costs $395. Other marketing costs could involve placing ads on newspapers, online classified sites and on other forms of marketing media.

Home staging is another marketing option you can consider. Studies show that well-staged homes sell up to 50 percent faster than their counterparts. Home staging is after the fixes and repairs have been done. It is an art with the aim of appealing to the maximum number of potential buyers for faster sale and better value. Home staging can be done by the owner or by professionals. Either way, this will incur additional costs.

Tips For Sellers

During times when home sales are slow, realtors might be inclined to accept a lower commission rate. This could significantly lower your selling costs. You may consider shopping around for a realtor who could be amenable to this proposal.

Any gains you realize over $250,000 is taxable and should be reported. The amount is $500,000 if married filing jointly. If you sell your home and realize a loss, you cannot deduct the loss. Check your state laws. If you have advanced payment on your property taxes for the year, you may be able to get a credit. Your state laws may also cover refunds on prepaid escrow costs for home insurance and other expenses related to the sale of your home.

If you still have a principal balance on your mortgage, you can approach your lender and ask if they can prepare a payoff statement so you can verify the figures. If a fee is charged for this service, you can you can deduct this as a cost in selling your a home.

References:

House Sold In Days: What Are the Real Costs Of Selling A Home?
http://www.housesoldindays.com/cost-of-selling-a-home.html
Marketing Charts: Americans See Home Buyer’s Market
http://www.marketingcharts.com/direct/americans-see-home-buyers-market-17195/
National Association of Realtors
http://www.realtor.org/
SFGate: What Do You Need to Sell Your House?
http://homeguides.sfgate.com/need-sell-house-7297.html
Wells Fargo: Costs of Selling Your Home
https://www.wellsfargo.com/mortgage/articles/sellingcosts

How Much Does It Cost To Demolish A House

To the untrained eye, a house demolition can appear to be an uncomplicated process that does not require much preparation and planning. After all, what can be seen and heard during the process is the use of sledgehammers, crowbars and other tools of demolition. However, to demolish a house requires a lot of skill, experience and knowledge of building laws and infrastructure. There are a number of things that need to be considered: the size of the house, the age, materials used, environmental and health risks involved, etc.

Typical Cost To Demolish A House

The cost ranges from $12,500 to $31,500 for an average-sized American home.

  • This estimate is arrived at using the following estimates:

SR 520 Eastside Demolition 5
Photo by WSDOT

Consider These Factors

  • If a home has environmental issues (asbestos, for example) this can increase demolition costs by as much as $3 per square foot. The presence of asbestos and other hazardous material could require proper abatement under Environmental Protection Agency (EPA) regulations.
  • The type of materials used in the construction of the home also has an impact; the presence of concrete, for example, increases the overall cost.
  • The number of floors also has to be considered. Multilevel structures mean higher expenses, since it is more difficult to safely demolish the building.

Included In The Cost

Typical demolition costs include project planning, site preparation and demolition work. It can also include waste removal, environmental safeguards and site restoration. For home demolitions, the cost may include cost estimation of the demolition, asbestos abatement, securing the necessary permits, submitting necessary notifications, disconnecting gas, water and electric utilities, rodent baiting, and development of site-specific safety  and work plans. Homes are demolished either manually or mechanically using large hydraulic equipment such as excavators, cranes or bulldozers.

Additional Costs

  • Are you considering site restoration as part of the services you require? This could increase your demolition expenses.
  • Site excavation and clearing activities can increase your costs. If you need to haul the debris to a landfill you will need to pay for hauling and landfill fees.
  • If hauling debris is not part of the contract you had with a demolition services company, you may need to rent a dumpster to haul it yourself.
  • Depending on the size, a 10-day dumpster rental  ranges from $295 to $650.

Tips

  • When shopping around for home demolition services, get a detailed list of items included in the demolition quotes. Items you should watch out for include: travel costs, debris removal, equipment costs and insurance
  • Compare quotes and ask for referrals from previous clients. Look at similar-sized projects they have undertaken. If a quotation is very different from the rest, ask why and be sure no crucial details are missed.
  • To find a local demolition contractor in the US, go to Hometown Demolition Contractors.

References:

30-Year Growth Spurt Ends for Average American House Size
http://ecopolitology.org/2010/02/21/30-year-growth-spurth-ends-for-average-american-house-size/
Demolition Cost – Estimating Demolition Costs & Prices
http://www.hometowndemolitioncontractors.com/demolition-cost.html
Demolition Cost Estimates and Scrap Metal Valuations
http://brick.olx.com/building-demolition-cost-estimates-and-scrap-metal-valuations-iid-32103994
Dumpster Rental rates
http://www.thedumpsterdivers.com/pricing/dumpster/
National Association of Home Builders
http://www.nahb.com/