When you are thinking about selling your Atlanta house be sure you know the costs to hold the property. Keeping the property might be costing you more than you think. In our latest post we take a look at the most common holding costs homeowners face when trying to sell their homes in Atlanta . Holding costs can quickly eat away at the sale price you will eventually receive for the home. As long as your house is on the market there are a number of costs you will be responsible for. When selling your house to a private buyer who requires financing the process to sell yourAtlanta house can take months resulting in potentially thousands of dollars you will have to spend. However when you sell your house directly to Fresh Start Home Sales the holding costs can be eliminated on only a matter of days! Mortgage Payments The most obvious expense is the monthly mortgage payment. If you own a home youre not happy with or if you are paying a loan on an underperforming rental the hefty mortgage payment can be a lot to deal with each month. Your mortgage is undoubtedly at least a few hundred dollars a month. This is money you could be spending on a new property instead of the one thats no longer working for you. Utilities Whether or not you are living in the home while it is up for sale you will need to make sure the utilities are working for any potential buyer who may want to see the home. They will likely check out the light switches and the water pressure things that cant be done if you have turned off your utilities. Plus you cant really show a home in the dark! In addition inspectors will need the utilities on in order to do their job. While your bills might be lowered if you are no longer living in the home you should still plan on paying a few hundred dollars each month to your bills. Property Taxes Depending on where you live the taxes can add up fast. Peopleliving in states like New Jersey or California will see these costs eat away at their profits even faster due to high property taxes which must be paid. You are responsible for the taxes up until the closing date. When working with a traditional buyer the closing can take months dueto the lenders red-tape. When selling directly to Fresh Start Home Sales your financial obligations to the home can end in only a matter of days. Homeowners Insurance Homeowners insurance is a necessary evil every homeowner is faced with.Depending on your home and policy your insurance can help to quickly eat away at your profits.As long as you are listed as the owner you will be responsible for the insurancecosts. You should also keep in mind that insurance will be high for landlords as opposed to owner-occupied properties. Maintenance If you decide to list your Atlanta house your home will inevitably need maintenance work while it is listed on the MLS. A good rule of thumb is to set aside 1% of the properties value for routine maintenance and minor repairs each year. This way you arent blindsided by unexpected costs while trying to sell your home. And remember the faster you sell your house the less maintenance you will be responsible for. Repairs In addition to the regular repairs and maintenance you will likely face there is always a chance a major repair will be needed while you are waiting for a buyer. Maybe the roof starts leaking or the hot water heater blows. Things like this can be costly but should definitely be fixed in order to attract more buyers. You should always have an emergency fund set aside to deal with such expenses so you arent stuck with a damaged property while trying to sell it. When you sell directly to Fresh Start Home Sales all expenses are covered. Repairs and all we buy as-is. HOA Fees If the property is located in a private community youll be stuck with those homeowners association dues until you are no longer listed as the owner of the house. Depending on your community HOA fees can be high and some can change rapidly. Dont forget to factor these costs in when its time to sell. Things like this can often be overlooked when trying to sell the property. As a homeowner in Atlanta who wants to sell it important you keep all of your holding costs in mind. When they are all added up the amount can be thousands. This can severly alter how much you are making on the sale. When selling your house in Atlanta dont forget to account for the holding costs. And dont forget to find out how a direct sale of your property will benefit you! To help better understand the costs to hold a property in Atlanta get in touch with Fresh Start Home Sales today! 678-337-1165 The post How To Calculate The Costs To Hold A Property In Atlanta appeared first on Fresh Start Home Sales. via Blog Fresh Start Home Sales https://www.freshstarthomesales.com/how-to-calculate-the-costs-to-hold-a-property-in-atlanta/