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7 Essential Selling Costs to Budget for When Selling a Property in Canberra
about 1 month ago
7 Essential Selling Costs to Budget for When Selling a Property in Canberra

When selling a property, it’s easy to overlook the costs involved beyond the agent commission. Here’s a rundown of seven common expenses sellers face, ensuring you’re well-prepared and avoid any budgeting surprises.

  1. Agent Commission
    Agent fees are a major cost when selling a property. They can be either a fixed-rate (a set percentage of the sale price) or a tiered rate (a variable fee based on the final sale price).

  2. Legal Fees
    You’ll need a conveyancer or solicitor to manage the legal aspects of the sale. Set aside around $1,000 to cover these essential costs.

  3. Advertising and Marketing Costs
    Depending on your agreement with the agent, you may be responsible for marketing expenses, which can reach several thousand dollars. These are crucial to attracting the right buyers and achieving a good sale price.

  4. Property Preparation
    To make the best impression, many sellers invest in property preparation, which can include repairs, redecorating, or even professional styling. Remember to account for these expenses in your budget.

  5. Auctioneer Fees
    If you’re selling by auction, expect to pay around $400–$500 for an auctioneer’s services, in addition to your other sales costs.

  6. Mortgage Discharge Fee
    If you still have a mortgage on the property, your lender will charge a fee to discharge it, generally around $1,000.

  7. Moving Costs
    Moving out is another expense to consider. Moving companies typically charge around $1,000, though costs vary by location and property size. If you require storage, factor this into your budget as well.

With these costs in mind, selling a property can amount to $15,000–$20,000, including agent fees. Planning for these expenses ensures a smoother, stress-free sale.

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