5 easy ways to save when buying or selling your property

Buying or selling a house is one of the biggest financial transactions of most people's lives, but it needn't be daunting. Here are five opportunities for saving money on purchasing, professional fees, mortgages and moving expenses.

5 easy ways to save when buying or selling your property

1. Explore all options 

Real estate agents' fees vary, so shop around. If you are selling, you can even investigate selling your house yourself.

2. Cut lawyers' fees

Although fees vary depending on the amount of work involved, they have recently become more competitive, so it's worth getting several quotes. Prices can range from $800 to $3,000 or more.

  • Another low-cost option: some mortgage lenders will even cover closing costs — including lawyers' fees, title transfer and appraisal fee — as part of the deal. But make sure you don't pay more for your mortgage as a result.

3. Invest on improvement

Spending some time and money on repairs and beautifying your home now will likely pay off when it comes time to selling it.

  • Freshly painted walls and ceilings give a home a "new" look and renovating the kitchen and bathroom or finishing the basement will increase the value of your home considerably.

4. Use some elbow grease

A clean house is a more attractive one and it will increase your selling price. Even hiring a maid service to give your house the top to bottom treatment will be worth it because potential buyers will see a house that's well-kept and may not balk as much at your asking price.

  • Clear the clutter and store extra items and clothing off site while your house is on the market.

5. Cheaper moves

Moving companies' charges vary, so be sure to get several quotes, both from your departure point and your destination, as you may find that one is considerably cheaper.

  • You can also save on moving costs by doing some of the work yourself.

Although some costs are unavoidable, many other expenses involved in property transactions are variable. Consider these five tips and reap considerable savings through good research and doing some of the work yourself.

The material on this website is provided for entertainment, informational and educational purposes only and should never act as a substitute to the advice of an applicable professional. Use of this website is subject to our terms of use and privacy policy.
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