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How Much Money Will I Make When I Sell My Home?

One of the first things you may ask as a homeowner who is thinking about selling is “how much is my home worth?” because...

  • Suzanne Damon
  • October 15th, 2020
  • 3 min read
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One of the first things you may ask as a homeowner who is thinking about selling is “how much is my home worth?” because ultimately, you want to know how much money you’ll be taking home when you get to the closing table. 

Home value estimates are a good place to start, but a comparative market analysis will only go so far (and won’t tell you how much money you will actually walk away with). 

As you consider selling your home, be sure to ask your real estate agent to take a deeper look than simply calculating your home's value. You'll want to determine the cash value of your home which will get you closer to knowing how much you'll walk away with when your home sells. There are a number of factors that go into this, however, it is determined in part by the remainder of your current home's mortgage and your home's listing price. 

We'll take a close look at market activity, how much money you still owe on your mortgage, and your taxes to determine the cash value. In other words, this is a more accurate estimate of how much money you will actually make on your home sale.

Another factor that most homeowners typically don’t consider when calculating their profit is closing costs. Closing costs are all of the fees and expenses that come with selling your home. These costs are typically around 6-10% of your sale price and can include the following:

  • Commission: A fee you pay to your Realtor for their services.
  • NH Tax Stamps: The transfer tax that is paid when the title of a property is transferred to someone else.  
  • Loan payoff costs: The amount you have to pay to satisfy your current mortgage loan.
  • Title insurance fees: This is the cost of the homeowner’s policy which is protected until your loan is paid off or refinanced.
  • Attorney fees:  The attorney will prepare the deed, and other legal documents, in addition to recording the transfer of title at the registry of deeds. 

If you decided to put some money into your home before listing it to increase its value, this cost might indirectly affect how much money you take home. Projects like updating your kitchen or bathrooms, painting the walls, or putting in an AC will likely have a positive impact on how much your home is worth but won't be included in an online home value estimate calculation.

As you can see, there are a lot of different factors that go into the profit of a home sale, so while knowing the estimated value of your home is important, your bottom line includes a lot of variables. If you're like us, before making a big financial decision, you want to understand all of the numbers specific to your situation. We know selling your home comes with a lot of questions and we're here to help.

Schedule A Call

Let’s talk about how much money you could ACTUALLY get from your home sale.

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 Want To Do The Math Yourself? 

We’ll send you a free value estimate of your home which is a good place to start.

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About the author

Suzanne Damon

603-493-5561
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A long-time resident of the Manchester, NH area, Suzanne Damon has been a powerhouse in real estate for the past 29 years. Ranked among the top-producing agents in both New Hampshire and the United States, she leads The Damon Home Team with expertise, integrity, and a deep commitment to her clients. Suzanne’s entrepreneurial spirit started early—at just seven years old, she was pulling a wagon through the city, selling flowers from her garden. That same determination carried her through college debt-free and has fueled her success in the ever-evolving real estate market. She understands the rollercoaster of life and knows firsthand the challenges that come with buying or selling a home. Beyond real estate, Suzanne is the President of 1628 Group, a real estate development company focused on community growth. She is also deeply involved in giving back—serving as a Court Appointed Special Advocate (CASA) for children in need and proudly supporting Liberty House, a local organization dedicated to helping homeless veterans rebuild their lives. Hardworking, caring, and genuinely fun to work with, Suzanne and her team bring a no-pressure, results-driven approach to every transaction—because achieving your real estate goals should be exciting, not stressful. Reach out: www.TheDamonHomeTeam.com, 603-493-5561 call or text.

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The Damon Home Team

The Damon Home Team

4 Bell Hill Road, Bedford, NH 03110

The Damon Home Team

4 Bell Hill Road, Bedford, NH 03110

888-398-7062 *125
[email protected]
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