Navigating the Expenses: The True Cost of

Selling a Home in San Diego

Are you considering making a move to sunny San Diego, California? The city's vibrant culture, beautiful beaches, and thriving job market have enticed many to call it home. But before you can start your new life in this stunning coastal city, you may need to sell your current home.

If you're wondering how much it costs to sell a home in San Diego, you've come to the right place.

In this blog post, we'll break down the expenses you can expect when selling your property in the San Diego real estate market.

1. Agent Commissions

One of the first costs you'll encounter when selling your home in San Diego is the real estate agent's commission. Real estate agents typically charge a percentage of the final sale price as their fee for helping you sell your property. In San Diego, this fee usually ranges from 5% to 6% of the sale price. Keep in mind that this fee is typically split between the seller's agent and the buyer's agent.

2. Home Repairs and Staging

To attract potential buyers and maximize your home's value, you may need to invest in repairs and staging. This cost can vary significantly depending on your home's condition. On average, sellers in San Diego spend around $2,000 to $5,000 on repairs and staging. However, if your home requires major repairs or updates, this cost can escalate quickly.

3. Pre-sale Inspection and Appraisal

In San Diego, it's common for sellers to conduct a pre-sale inspection to identify any potential issues that could arise during the selling process. The cost of a home inspection typically ranges from $300 to $500. Additionally, you may need to pay for a home appraisal, which can cost between $400 and $600.

4. Closing Costs

Closing costs are another significant expense when selling a home in San Diego. These costs can include title insurance, escrow fees, transfer taxes, and other miscellaneous expenses. On average, closing costs in San Diego can range from 1% to 3% of the final sale price.

5. Holding Costs

Selling a home takes time, and during that time, you'll still need to cover expenses like property taxes, homeowners' insurance, and maintenance. These holding costs can add up, so it's essential to budget for them while your home is on the market.

6. Marketing and Advertising

To attract potential buyers, you'll need to invest in marketing and advertising your property. While some marketing efforts may be covered by your real estate agent's commission, you may choose to spend extra on online listings, professional photography, and open house events. Budgeting around $500 to $1,000 for marketing and advertising can be a good starting point.

7. Moving Expenses

If you're planning to move to San Diego, don't forget to account for the cost of moving your belongings. Whether you're moving locally or across the country, moving expenses can vary widely based on the distance and the volume of items you're transporting. It's wise to obtain quotes from moving companies to get an accurate estimate of this expense.

8. Capital Gains Tax

In some cases, you may be subject to capital gains tax when selling your home in San Diego. However, many homeowners can take advantage of tax exclusions, such as the Primary Residence Exclusion, which allows you to exclude up to $250,000 (or $500,000 for married couples) of capital gains from the sale of your primary residence. Consulting with a tax professional can help you navigate this aspect of selling a home.

9. Negotiation Costs

During the negotiation process, you may agree to cover some of the buyer's closing costs or make additional concessions to close the deal. These costs can vary but should be factored into your overall budget.

10. Miscellaneous Expenses

Lastly, be prepared for unexpected expenses that may arise during the selling process. These could include legal fees, property tax prorations, or additional repairs requested by the buyer.

Selling a home in San Diego, California, involves various costs that can add up quickly. When budgeting for your home sale, it's crucial to consider agent commissions, repairs and staging, inspections, closing costs, holding costs, marketing, moving expenses, potential capital gains tax, negotiation costs, and miscellaneous expenses.

By carefully planning and budgeting for these costs, you can navigate the San Diego real estate market with confidence as you make your move to this beautiful part of California. So, if you're thinking about moving to San Diego, start preparing your budget for the journey ahead.

How Can I Help You?

Melina Rissone

Having sold properties for more than 17 years and earning various prestigious awards throughout the course of her career, Melina Rissone has more than earned her reputation as one of San Diego's most skilled and trustworthy real estate brokers.

• Coldwell Banker Global Luxury and Institute of Luxury Home Marketing certified.
• Cartus Network Inventory Specialist and Cartus Network Marketing Specialist since 2015.
• RCS-D Designation, a Real Estate Collaboration Specialist for Divorce.
• SRES Certification through NAR is a Seniors Real Estate Specialist certification.
• Melina is bilingual in English and German.
• Recognized as the Top 4% of all real estate brokers in San Diego County in 2021 and the Top 3% of Coldwell Banker International.
• Coldwell Banker Presidents Elite Award.