The costs of selling a property in Hobart 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.
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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
How much will it cost to sell in Hobart?
The costs of selling in a property in Hobart are:
| Type | Cost |
|---|---|
| Agent Commission | 3.25% average. |
| Conveyancer Fees | Between $700 and $1300 |
| Marketing Costs | Top tier ads in Hobart will be around $600, outside of Hobart, less than $300 |
| Mortgage Discharge Fees | Between $150 and $1000 |
| Capital Gains Tax | Nothing if you live in the property you’re selling. More information at the ATO website. |
| Renovations and Repairs | Renovation costs will depend on the age and condition of your property. |
| Auctioneer’s Cost | Between $200 and $1000 |
| Home Staging Expenses | Between $2000 and $8000 |
| Moving Costs | Between $500 and $3000 depending on the size of your home |
Real Estate Agent Commission
On average, a Tasmanian property owner will pay 3.25% as a commission fee. To aid real estate agents in Tasmania, REIT advises a recommended scale of fees and commissions to be used as a guide. Due to the tiered commission rate, Tasmania has one of the most expensive rates in the country. If you’re looking to sell, we can give you information about local commission fees and top local agents.
The market can shift dramatically in Hobart, so make sure you’re on top of the top agents and fees in the area with our Hobart real estate agents guide.
Conveyancer or Solicitor Fees
A Tasmanian-based solicitor will charge approximately $700 to $1,300 to assist you with the conveyancing tasks.
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.
Marketing Costs
A property in Hobart costs more to market online than in areas like Campbell Town or Queenstown. For example, a ‘Highlight’ advertisement costs you over $600 for 45 days in the capital city, but in regional areas, the fee can plummet to under $300. As such, online advertising for a Hobart property ranges in price from $400 to $800, while outlying areas are under $400, even at the costliest marketing tiers.
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
Bank discharge fees vary dramatically depending on your mortgage. Speak to your bank to determine accurate costs which tend to fall between $150 and $1,000.
Capital Gains Tax
Capital Gains Tax is not necessary if you reside on the property you intend to sell. The Australian Taxation Office website can advise you of the up to date charges for those selling an investment property.
Renovations and Repairs
Repairs and improvement will ultimately depend on the age and the condition of your property.
Auctioneer’s Cost
If you are selling by auction in Tasmania, the auctioneer will cost from $200 to $1,000.
Home Staging Expenses
It’s probably not an expense that everyone will incur, but it can be a useful sales strategy. If you intend to use a professional home staging company, the costs can range from $2,000 to $8,000.
Moving Costs
If you are selling your home, you had best have a Plan B up your sleeve. Getting there will cost you from $500-$3,000.
Costs Of Selling Property Calculator in Hobart
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.
Costs Of Selling Property Calculator in Hobart
Looking To Sell?
The above prices are a general guide to inform you how much it is going to cost you to sell a home in Hobart. 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.
Frequently Asked Questions
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.
Tools for Sellers