
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.

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.