Calculating How Much You Keep After Your Sale
How to calculate the amount of money you’ll keep after your home sale.
The market has been changing lately, and many people have been wondering if it’s a good time to sell their homes. If that is you, one factor that will help you make that decision is knowing how much money you’ll get to keep after you sell. Too many people oversimplify this estimate and end up disappointed. I want to help you avoid that.
Start by determining your home’s value. There are free tools online that show you an estimate of how much your home is worth. They are not guaranteed, so know that numbers will fluctuate. However, this will at least help you get a good ballpark figure to start with.
After that, use this calculation: take your home’s estimated sale price, subtract the balance of your remaining mortgage loan, and subtract your expenses—that’s how much money you’ll get to keep after selling your home.
"A good agent will help you know what to expect with your net proceeds."
Also, there are some common expenses that come with a home sale. These can include staging costs, closing costs, title fees, attorney fees, transfer taxes, remaining bills, and moving costs. It adds up! That’s why it is very important to take them into account when calculating the amount of money you expect to keep after your sale.
Lastly, the easiest way to determine how much money you can make from your home is to work with an experienced real estate professional. Having a good agent will help you sell your home for the most money possible and greatly increase your net proceeds. Our team at Lincoln Select Real Estate Group not only does this every single day, but we're also more likely to make you far more money than you would if you sold on your own.
If you are at all curious about what you can make from selling your home, try these steps and call or email us to compare what we have to say to what you came up with. From there, you can determine what the best route for you would be. For any other real estate questions, don’t hesitate to reach out. We’re always happy to help!