Did You Know Of These Hidden Costs?

Selling your property in India is synonymous to earning a profit. However, earning a profit through selling a property is not as easy a task as you imagine it to be. You could buy a home for a certain price, and the recent market price might be lower than that. In addition, even if the market price is high enough to provide you profit, you might end up spending too much on real estate agents, marketing your resale apartment in India, adding expensive furniture and installing a new bathroom or a bedroom. Come to think  of it, there is actually a cost element to selling your home too and keeping that cost firmly under control is vital to earning significant profits over your deal.

Commissions and fees

Real estate agents charge up to 3-7% of the total price of residential projects in India if the deal goes through. To top that, you might also hire a listing agent who will charge his own commission. Due to their skills and experience in the real estate market, these professional experts can easily convince the buyers of the home's worth and make them comfortable about putting their money in the home. That being said, investing in a real estate is usually profitable. Research well into the economics of your property and negotiate a price with your agent so that both of you profit from the deal. To cut this cost completely, you can try your hands at selling the home on your own, but it is generally a long shot and very risky.

Cosmetic touch-ups

To make your home look desirable to visitors when you are trying to sell it requires many expenses. Apart from cleaning the flat to the core, buying expensive furniture, recreating the bedroom, or even adding a bathroom are some ways to make ready to move apartments in India more likely to be sold at the said price. Sometimes, minor things like termite treatment can also add to the cost of selling a home. Although these are the things you should probably not avoid, but too much spending here can reduce your profit. A way to avoid that is putting up the things you bought to increase the value of your home on sale along with the price of the entire home. You might be able to strike a deal, which helps you cover almost all the expenses.

Take into account the taxes

Sometimes, a major part of the profit on selling a new apartment in India can end up getting spent as property tax, which is frustrating because you cannot really do much about it. Moving and packaging can also use up a lot of your money. Shifting all your stuff from the home on sale to your future location will probably require professionals who charge a lot. A better way to do it is by using your car and asking your friends to chip in with theirs, especially people with SUVs. Be careful about every expense in the process of selling your home so that the cost for selling it does not interfere with your profit.