Selling your home: What will it cost?

Finweek English Edition - - MONEY - BY GLENDA WIL­LIAMS

Up­per­most in the mind of the home­owner when selling their home is cap­i­tal profit. Likely to be a sec­ondary con­sid­er­a­tion is how much that sale is go­ing to cost. But cost it will. The ques­tion is, how in 2014 for R1 194 200 would have been R556 900 over that time. Lit­tle won­der then that many home­own­ers, bask­ing in the glow of a healthy profit, pay less at­ten­tion to the cost of the sale or to how much will it erode that cap­i­tal profit.

Yet, selling your home re­quires giv­ing away a size­able chunk of that profit. In South Africa, un­less you are at­tempt­ing a DIY pro­ject, that gen­er­ally means money paid to ei­ther an es­tate agent or an auc­tion house. But there is also a new kid on the block, a low-cost online es­tate agency look­ing to buck tra­di­tional trends.

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