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How much does it really cost to move?

Discussion in 'BBS Hangout' started by Harrisment, Feb 2, 2005.

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  1. Harrisment

    Harrisment Member

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    A little over two years ago, the wife and I bought our first house. It's in Deer Park, which is where we both grew up and where my family lives. Well, now we both work on the west side of town, and desperately want to move. Not only are we tired of the drive, but we're both just really sick of living there. The people, the chemical plants, etc....we've had enough.

    My parents helped us out with the down payment when we got this house, so it wasn't as much of a financial hit that I'm sure the next house will be. Also, we were coming from an apartment so we didn't have to worry about selling our house and paying realtor fees. We don't have a whole lot of money saved up, so I really doubt moving right now is realistic. How much money do we really need to move? We'll probably be looking at houses that cost just a bit more than the one we are in now, maybe in the $125,000 range. Is it worth it to try to sell our house on our own and avoid the realator costs?

    Our real goal is to be moved within the next year, so if anyone has any tips I'd love to hear them.
     
    #1 Harrisment, Feb 2, 2005
  2. NJRocket

    NJRocket Member

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    Realtors generally charge 6%...although you can get them to do 5....and I think there is some online company that will list it for 2...

    I'd say you will need 5-10K additional for incidental costs (moving, inspections, insurance 1st year premium, and other various closing costs....maybe a little more depending on how far you are moving
     
    #2 NJRocket, Feb 2, 2005
  3. NJRocket

    NJRocket Member

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    also included in those costs should be mortgage fees..
     
    #3 NJRocket, Feb 2, 2005
  4. pirc1

    pirc1 Member

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    I have no idea, since I just bought my house a few month ago.:) But I do wonder how big a house should everyone get? My uncle have a house that's about 6000 sf and only two people are in the house (him and his wife). Wife and me have this 2500 sf house but hopefully we will add a few young ones soon.
     
    #4 pirc1, Feb 2, 2005
  5. Supermac34

    Supermac34 President, Von Wafer Fan Club

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    When you list your house with a realtor, that realtor will charge 3%. When you sell your house, the buyer's agent will charge 3%...so traditionally, 6% of your sell price will go to agents.

    If your agent also sells your house, they'll usually cut you a deal...3% to list, 1-2% to sell, so 4-5%.

    The real way to save money is to sell your house to someone who doesn't have an agent...give the buyer half, so you each split the 3% you don't have to pay to their agent.

    The buyer pays the closing costs, but that means you'll pay the closing cost on your new house you buy. That differs on your credit, mortgage, taxes, ect...could be $2-5K depending on how expensive your new house is.

    You can save money if you are moving close by to move all the small stuff yourself, box everything yourself and have movers only move big furniture.

    If you have movers box stuff for you, that is much more expensive.
     
    #5 Supermac34, Feb 2, 2005
  6. RIET

    RIET Member

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    Is this true in Texas?

    We just sold our condo and we had to pay the closing costs.
     
    #6 RIET, Feb 2, 2005
  7. Phreak3

    Phreak3 Member

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    I'm no expert, but I think realtors help get your house sold sooner because they do all the advertising as well as trying to get other realtors to help sell your house. If you sell the house by yourself, it might take a lot longer.
     
    #7 Phreak3, Feb 2, 2005
  8. NJRocket

    NJRocket Member

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    exactly...plus , unless you are a lawyer, you will need someone to drap up and/or look over the contracts
     
    #8 NJRocket, Feb 2, 2005
  9. Supermac34

    Supermac34 President, Von Wafer Fan Club

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    The biggest advantage to listing your house with a realtor is that your house gets listed on the MLS.

    This is the realtor list that all agents look at to shop for houses for their clients. If you aren't listed on this, no realtor is going to bring anybody by your house.
     
    #9 Supermac34, Feb 2, 2005
  10. Dr of Dunk

    Dr of Dunk Clutch Crew

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    codell or codell's boss...errr...wife may know about this. :D
     
    #10 Dr of Dunk, Feb 2, 2005
  11. codell

    codell Member

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    No.

    Seller's will have closing costs also.
     
    #11 codell, Feb 2, 2005
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