I often get asked what are the costs to sell a home in San Francisco. Let me walk you through them.
First, you have commission. Commission in San Francisco is negotiable and there’s a range. Typically, you’ll find it anywhere between about 5% and 6%, and 2.5% of this typically goes to the buyer’s agent.
There’s also transfer tax, which goes to the city of San Francisco. Transfer tax in San Francisco varies by price point. It goes up at $5 million, it goes up again at $10 million, but typically in the price point under $5 million, you’ll find it around 1%, and then it goes up consistently after that.
The other costs are anything that you do to the home to prepare it for the market. Usually, these costs are borne by the seller. Examples of those costs would be painting the home, staging the home, putting in new countertops, and putting in lighting. On my team, we manage all the renovations to the home.
A couple of things that you could keep in mind. Staging costs for 1 bedroom are probably around $4,000. For a 3 bedroom, you’re probably looking at somewhere around $12,000 to $15,000, and as you get into really big luxury properties, sometimes the staging costs alone go as high as about $40,000.
Countertops in a small kitchen are probably going to be somewhere around $8,000 to $10,000 and in a larger size kitchen, you could spend upward of $15,000 to $18,000 on countertops.
For lighting, we’re usually looking at somewhere between $3,000 and $5,000 for light fixtures and installation. Hardwood floors to refinish are probably going to be between $4,000 and about $10,000, depending on the size of the home.
Additionally, there are going to be some inspections that you’re going to want to do. Inspections work a little bit like an insurance policy. When you have inspections, you can have a very thorough disclosure package. And that thorough disclosure package is going to mean that buyers can’t come back and negotiate with you later. It really keeps every single dollar in your pocket that comes in the door.
Obviously, costs are going to vary depending on what you plan to do to your home and what’s recommended. My background in interior design and as a real estate agent allows me to make recommendations that are going to get you the most return on your investment. See our before and afters to get a sense of how these improvements will get you the highest price for your home.
Wondering what the costs would be to sell your home in San Francisco. Contact us to find out!