Understanding Your Holding Costs For Your Fairfax VA Real Estate

Understanding Your Holding Costs For Your Fairfax Real Estate

Holding costs can really add up, especially if your home has been sitting on the market for more than a month… Do you know what owning your home is really costing you? People are often surprised when they add up all the numbers to see just how much of their income is being spent on an unwanted property. Learn more about some of the holding costs you will potentially face as a homeowner in Fairfax. 

Owning a house can be expensive! This is why when investors flip a house, the goal is to sell it as quickly as possible. Holding onto it will eat away at their profits until the house eventually ends up costing them! Do you own a house you’d rather sell in Fairfax VA? Waiting for a buyer and the escrow process can take months when selling with a real estate agent in Fairfax. By the time the process has been completed, you could be out thousands in lost holding costs! Here are just a few of the costs you will continue to face if you opt to list your house on the MLS.

Understand Your Holding Costs For Fairfax Real Estate

Utilities In Fairfax

Even if you aren’t living in the house any longer, you’ll need to keep the lights on. Utilities will need to be left on until the house is no longer in your name. If you are living in a house that is too large, with the hope of downsizing, you may find yourself spending a fortune keeping a house warm or cool while waiting around for a buyer. If your utilities are averaging a couple of hundred dollars each month, you could be looking at thousands by the time the property has actually sold.

Fairfax VA Taxes

Your tax obligation doesn’t end until the house has sold. Depending on the size and location of your home, you could be looking at thousands of dollars you will need to cough up for property taxes. With a fast sale, your tax obligation will end right away.

Routine Maintenance In Fairfax

Light bulbs, gas for the lawnmower, new a/c filters… these things add up quicker than you may think. Take the time to consider how many trips to Home Depot you’re making, and how much time you are spending simply maintaining the home while it is listed. You may find that waiting for a traditional sale isn’t worth it.

Surprise Repairs In Fairfax VA

There is nothing more frustrating than when a needed repair pops up while the property is listed or as a result of the property inspection. You are already at a point where you no longer wish to own the house, so having to sink more money into it can be incredibly frustrating.

Fairfax Insurance

The average homeowner pays around $1,200 per year for their homeowner’s insurance. While this figure can vary widely depending on where you live, it can ultimately be a significant expense, especially when it’s for a house you no longer want.

Landscaping In Fairfax Virginia

When you list your Fairfax house, curb appeal is incredibly important. When trying to sell your house the traditional way, it is important that you maximize your curb appeal. Whether you do it yourself or hire a professional to help, keeping up with the landscaping will cost you time and money.

Cleaning In Fairfax VA

Of course, the inside of the property must be kept in great condition as well. You’ll want to keep the house clean at all times, always prepared for a last-minute showing. Hiring a maid service can help, but you will need every member of your family to keep things tidy, always cleaning up after themselves.

Fairfax HOA Fees

Depending on where you live and the current situation you are facing with your property, you may find that you are dealing with even more costs as a reluctant property owner. If you own a home in a development or private community, you’ll be required to keep up with the HOA costs until you are no longer listed as the owner of the home.

Property Management In Fairfax Virginia

Maybe you own an investment property in Fairfax, but you are living out of the area and wish to sell. You may be dealing with property management fees and other costs as a landlord. If the property management costs are too high, consider reading this article on selling your rental property.

Home Watch Services In Fairfax VA

If you live out of the area and aren’t renting out the home with a property management company, you will likely have someone who you have hired to check on the house for you every so often.

When it comes down to it, your holding costs can add up to a small fortune. Once you have made the decision that you would like to sell your house in Fairfax, the faster you are able to do it, the more money you will be able to put in your pocket. We invite you to run the numbers for your property so you can determine the selling option that will work best for your house in Fairfax!

The House Guys Offer A Simple Solution

As local cash home buyers, we want to get your home sold on your timeline. If the timeline for selling your Virginia house is as soon as possible we can accommodate you. The House Guys don’t want you to worry about paying all of the costs to hold a home. When we work together, you can set the closing date, take what you want, and leave the rest for us. If you have any questions on how to know if you should work with a real estate agent or an investor (like us) reach out so we can provide guidance. Let us help you end your expensive holding costs once and for all! Sell your house fast and keep more money in the bank. Reach out today to learn more! (571) 207-5171

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