Divorce Coach's Guide to The Hidden Costs of Selling a Home

by Pav Lertjitbanjong

https://www.mycoachpav.com/single-post/the-hidden-costs-of-selling-a-home

Divorce is a stressful time. A study based on the Holmes and Rahe scale revealed that divorce is the second most stressful life event behind only the death of a spouse. Marital separation was a close third. With so much stress during this period of your life, why add trying to sell your house after divorce to the mix?

For those who have newly inherited a home, even if there is no mortgage attached, there are other expenses that you should keep in mind.

People often think of paying the mortgage as the major expense when dealing with your home during the selling process. Here are some hidden costs that can put a financial burden on you as the seller.

Property taxes

Taxes assessed on your home are one of the largest expenses you may encounter aside from your monthly principal and interest payments. These are typically remitted periodically throughout the year (quarterly, semi-annually, etc.).

Utilities

If you are trying to sell a home, even if you are not living there, it will still need to have essential services, such as water, gas, and electricity. Over an extended period, these expenses can add up.

Lawn/pool maintenance

If you are trying to sell your home and aren't living there, you will still need to pay for the upkeep of the property to keep it presentable for showings and potential buyers. Unless you are planning to tackle these items yourself, you will have to pay out-of-pocket for someone to assist you.

After a divorce, you're ready for a new start. When you've inherited a home, you may not want the burden of the additional responsibility of maintaining another property.