When selling a house, there are several unexpected expenses that homeowners should be aware of. The biggest hidden expense is closing costs, which can total around $13,357 for the median-valued US home. Closing costs include fees for title insurance, appraisal, and various other services required to complete the sale. In some cities, like San Jose, closing costs can be as high as $74,927.
Other unexpected expenses associated with selling a house include home staging, repairs, and real estate agent commissions. Home staging can cost between $250 and $600 per room per month but can help a house sell 88% faster than a non-staged house. Repairs may be necessary to make the house more attractive to potential buyers, and real estate agent commissions typically range between 5% and 6% of the final sale price. Homeowners should also be aware of capital gains tax, which may apply if they make a profit on the sale of their home. Overall, it's important for homeowners to budget for these unexpected expenses to avoid any surprises when selling their house.