GET STARTED | Get Your Fair Cash Offer Today >>

  • This field is for validation purposes and should be left unchanged.

house in edmonton our we buy houses company bought fast for cash

Understanding Your Holding Costs For Your Edmonton Real Estate

Understanding Your Holding Costs For Your Edmonton Real Estate

Are you aware of the true cost of owning a home? Many individuals are shocked when they realize the extent of their expenses associated with a property they no longer desire. Discover more about the potential holding costs that homeowners may encounter in Edmonton. 

Owning a property can be a significant financial commitment! This is precisely why investors aim to swiftly sell a property they have renovated. Holding onto it for an extended period can erode their profits, eventually leading to a financial burden! Do you possess a property you wish to divest? The traditional route of selling through a real estate agent in Edmonton might result in a lengthy sales process. Throughout this time, you could accumulate substantial holding costs, significantly impacting your finances! Here are some of the expenses you may continue to bear if you choose to list your property on the MLS.

Typical Holding Costs

Utilities

Even if you aren’t residing in the property, keeping the utilities running is essential until the house changes ownership. Waiting for a buyer in a large house can result in hefty utility bills, costing you thousands by the time of sale.

Taxes

Your tax responsibilities continue until the property is sold. Depending on the property size and location, property tax bills can amount to thousands of dollars, which can be promptly resolved with a quick sale.

Routine Maintenance

From light bulbs to lawn care, maintenance costs can accumulate rapidly. Constant trips for supplies and time spent on upkeep while the property is on the market can make waiting for a traditional sale less appealing.

Surprise Repairs

Unexpected repairs during the listing period or property inspection can be frustrating when you’re already looking to sell the property. Additional expenses for repairs can be a significant burden at this stage.

Insurance

The average annual homeowner’s insurance cost is approximately $1,200. This expense, though varying by location, can be substantial for a property no longer desired.

Landscaping

Curb appeal is crucial when selling your property in Edmonton. Maintaining the landscaping, whether through personal efforts or professional assistance, requires both time and money.

Cleaning

Interior upkeep is also vital. Maintaining a clean property at all times is necessary for impromptu showings. Consider hiring cleaning services or ensuring every family member contributes to maintaining tidiness.

Home that may be sold to a house buying company like yegflip

Other Holding Costs

HOA Fees

Owning a property in a community entails ongoing HOA fees until ownership changes hands.

Property Management

If you own an investment property in Edmonton but live elsewhere, you may incur property management fees and other landlord-related costs.

Home Watch Services

For out-of-town property owners not utilizing property management, hiring someone to periodically check on the property is often necessary.

Your holding costs can accumulate significantly. When ready to sell your property in Edmonton, a prompt sale can maximize your profits. Evaluate the selling options available for your Edmonton property to make an informed decision!

In summary, owning a property can be a significant financial commitment, and holding onto it for an extended period can erode profits and lead to financial burdens. Traditional selling methods in Edmonton may result in lengthy sales processes, accumulating substantial holding costs. Some common holding costs include utilities, taxes, routine maintenance, surprise repairs, insurance, landscaping, and interior upkeep.

Handling costs can be significant, especially if the property is listed on the MLS. Utility bills can be high, while taxes can be substantial. Maintenance costs can accumulate quickly, and unexpected repairs can be frustrating. Insurance costs can be substantial, and landscaping and interior upkeep are essential for curb appeal. Other holding costs include HOA fees, property management fees, and home watch services.

To maximize profits when selling a property in Edmonton, a prompt sale is crucial. Evaluate the selling options available to make an informed decision.

Let us help you end your expensive holding costs once and for all! Sell your Edmonton house fast and keep more money in the bank! Reach out today to learn more! (780) 619-0629

Get More Info On Options To Sell Your Home...

Selling a property in today's market can be confusing. Connect with us or submit your info below and we'll help guide you through your options.

You’re One Step Away From Selling Your House!

We buy houses in ANY CONDITION in Edmonton. There are no commissions or fees and no obligation whatsoever. Start below by giving us a bit of information about your property or call (780) 619-0629...
  • This field is for validation purposes and should be left unchanged.

Call Us!
(780) 619-0629