How Much Does It Cost To Sell A House in Poole, Bournemouth or Christchurch: A Comprehensive Guide
Dave Kunzi posted on 20th October 2023
Selling a house can be an exciting yet financially daunting process. If you’re planning to sell your property in the picturesque areas of Poole, Bournemouth, or Christchurch, you may be wondering about the costs involved. While the final expenses can vary based on several factors, this comprehensive guide will help you understand the essential costs associated with selling a house in these beautiful coastal towns of Dorset. So how much does it cost to sell a house in Poole, Bournemouth or Christchurch?
Conveyancing Costs
Conveyancing involves all the legal aspects of selling a property, including the transfer of ownership. Conveyancing costs can vary, but you should budget for legal fees. For the sale you might spend anywhere from £800 to £1,750 on conveyancing in these areas. If you also intend to buy another property you will also need to factor in additional conveyancing fees, disbursements (searches and Land Registry fees), and stamp duty (if applicable).
Estate Agent Fees
One of the most significant costs you’ll encounter when selling your house is the estate agent’s fee. In Poole, Bournemouth, or Christchurch, estate agent fees typically range from 1% to 3% of the final sale price. These fees cover the professional services of your estate agent, including property valuation, marketing, and negotiations with potential buyers. Find out why people use Estate Agents here.
Energy Performance Certificate (EPC)
Before selling your house, you must obtain an Energy Performance Certificate. EPC costs are relatively consistent and generally range from £50 to £125. This certificate is a legal requirement and provides information on your property’s energy efficiency. An EPC is valid for 10 years. Click here to check if your property has a valid EPC.
Removal Costs
Moving out of your current home is another expense to consider. The cost of removal services can vary depending on the size of your property and the distance to your new location. Be sure to request quotes from several removal companies to find the best deal. Lovett customers are eligible for 10% off when using Pickfords for removals, get a quote here.
Mortgage Redemption Costs
If you have an outstanding mortgage on your property, you may need to pay early repayment charges or exit fees when you sell your home. It’s essential to check your mortgage terms and conditions and consult with your lender or a broker to understand these costs fully.
Home Improvement and Staging
To maximise your property’s sale potential, you may want to invest in home improvements or staging so that it looks it’s best for photos and viewings. These costs can be flexible, but it’s essential to set a budget and prioritise repairs or enhancements that can add real value to your home. Check out our article here on how to add value to your home.
Taxes
When it comes to selling your primary residence, you’ll be pleased to know that there are typically no taxes to worry about. However, if you’re in the process of selling a property that falls under the categories of a secondary residence, an investment property, or an inherited property, you will likely find yourself liable for Capital Gains Tax (CGT). This tax is calculated based on the appreciation in value since the property’s acquisition. It’s important to note that you can offset your CGT liability by deducting the expenses related to property improvements and the costs associated with the buying and selling procedures. To navigate the complexities of CGT and ensure that you are taking full advantage of any deductions available, it is advisable to seek the counsel of a qualified accountant. Their guidance will prove invaluable in optimising your financial position.
Valuation and Survey Fees
To determine the accurate market value of your property, you may choose to get a professional valuation. Additionally, your buyer may request a survey to assess the condition of the property. In most cases the buyer will cover the cost of the survey, however in some instances the seller may choose to have the survey carried out or contribute towards the cost. Surveys can typically range from £200 to £800, depending on the type and scope of the assessment.
Conclusion
So how much does it cost to sell a house in Poole, Bournemouth or Christchurch? Selling a house in Poole, Bournemouth, or Christchurch involves various costs that should be factored in to any potential move. While the exact expenses may vary based on your specific circumstances and the property being sold, understanding these common costs will help you budget effectively. It’s crucial to consult with local professionals and conduct thorough research to ensure a smooth and financially sound home-selling experience. If you would like to discuss your prospective property sale our expert team are here to help, contact us here.
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Dave started his Estate Agency career back in 2004, entering the industry as a trainee before working his way up to management level in 2011. He joined Lovett Estate Agents in 2015 and brings a wealth of knowledge, experience and expertise to his role as Sales Manager of our leading Bournemouth Office. He prides himself on delivering our clients an outstanding service with results.
