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Home › Real Estate Agent Fees › Costs To Sell A Property in Canberra [2024 Update + Calculator]
The costs of selling a property in Canberra are substantial and cannot be determined by one figure alone, especially as there are so many variances which come into play.
So, what costs are involved in selling a house? This guide will take you through the many different primary costs of selling a house.
While some of the typical costs such as auctioneer’s fees, home improvements, repairs and home staging expenses may not be entirely necessary, it is worth having money set aside for these added extras in case you decide to go down that route. A small investment, particularly regarding repairs and professional styling, could reap huge rewards.
Spending money to prepare and market a property is only a worthwhile investment if you engage a top real estate agent to maximise your return on this investment.
Our free comparison service will show you exactly who the best real estate agents suited to sell your property are. Agents are very happy to discuss marketing and advertising cost structures, so don’t be shy.
Table of Contents
The costs of selling in a property in Canberra are:
Commission fees in Canberra, ACT vary dramatically – from 2.5% up to 4% of the final sale price. If you want more information about local commission fee rates or top local agents, don’t hesitate to contact us.
Total Agent Commission
Canberra is a special market for real estate, so it’s important you stay on top of it with our real estate agent guide to Canberra.
Conveyancing fees are part and parcel of a property sale. It can be as little as $700, or as much as $1,300 to hire the services of a conveyance or solicitor in the ACT.
As soon as the house is sold, the title of the house must be transferred from one owner to another. This is done with the assistance of a conveyancer or solicitor.
The ACT is reasonably consistent with what it costs to advertise a property online, regardless of location within the territory. For a low-tier 45-day ‘Feature’-level advert, the price is under $100, but the marketing fees can skyrocket to over $800 for a ‘Premiere’ tier advert, depending on how far-reaching you want your advertisement to be. A moderate ‘Highlight’ tier advertisement comes in at $400.
Insiders tip: search your suburb in realestate.com.au to see what type of ad other sellers are using, and then base your selection, so your property has equal / greater prominence than theirs.
Mortgage discharge fees will cost between $150 and $1,000, depending on the type of mortgage you have on your property. Your financial institution will be only happy to provide you with the necessary details.
Capital Gains Tax is not necessary if you live in the property you intend to sell. The ATO website is full of helpful information on how to work out your capital losses and gains.
The costs of these will vary on the amount of work necessary to achieve a healthy sale price.
If you wish to sell your home or property via auction, the cost of an auctioneer in the ACT will be between $200 and $1,000.
Depending on your aims, you can expect to pay anywhere from $2,000 to $8,000 on home staging expenses.
Whether you are moving to another house or another city, you will need to have some money put aside for moving expenses. $500 to $3,000 should be a great start.
By now you should have a good idea of what you should expect when you’re looking to sell your property. To get a final figure, just use our costs of selling calculator below, which will let you tally up a total estimated cost of selling and see where you could save money.
The above prices are a general guide to inform you how much it is going to cost you to sell a home in Canberra. This information is particularly helpful if you are a first-time buyer, so you have a better idea of your budget. Exactly how much it will cost to sell your house will be determined by chosen method of sale, agent and location.
Remember that it might not be in your best interests to opt for budget marketing plans or commission fees. Selling your house can be one of those times where you get what you pay for – agents might not work as hard for you if you’re paying them a lower commission rate for example. At Which Real Estate Agent, we can help you find agent commissions and top-performing agents – we do all the research for you.
The common costs in selling a property are; real estate agent fees and commissions, conveyancer or solicitor fees, marketing costs, mortgage discharge fees, capital gains tax, auctioneer costs and moving costs.
Commission rates for real estate agents vary state-to-state but generally agents will be paid 1-4% of the selling price as per their commission rate.
Real estate agencies will generally print brochures & signage as part of the marketing costs. Marketing costs will normally include digital marketing on sites like realestate.com or domain as well.
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