Experts estimate that most people who use a Realtor will pay as much as 10% of your selling price in costs associated with selling. The cost of selling a home yourself can range from 4% to 8% of the selling price of your home. When you're estimating your expected gains, remember that the cost of selling a home can be deducted from that figure for tax purposes.

To give you an idea of what the costs of selling a home in the current market are, take a look at the information below. We've included estimated costs based on a $250,000 home sale, as well as some tips for lowering or eliminating them to lower your overall cost of selling your home.

Sales commission

If you list your home with a Realtor, expect to pay 4 to 6% of the sales price, or $8,000 to $12,000 in real estate commission.

Tip: Shop around. Real estate commissions aren't written in stone. A Realtor may be willing to accept less of a commission in a slow market, or you may be able to save money by contracting with a Realtor for specific services only rather than a contracted listing.

250,000
-12,000
238,000

Closing Costs

Taxes, both transfer taxes and property taxes, and legal fees associated with the closing and finalizing of your home sale will be 2% to 4% of your sales price, or $4,000 to $8,000.

Tip: Check the laws in your state. If you've prepaid your property taxes for the year, you may get a credit instead of a bill. There may also be other refunds on prepaid escrow costs for home insurance and other costs of selling a home.

238,000
- 8,000
230,000

Paying Off Your Mortgage

Whatever the remaining principal balance is on your current mortgage will have to be paid off upon the sale of your home. Just to keep things simple, let's say that you still owe $50,000 on your current mortgage. If there's a prepayment penalty, you'll need to deduct that from your eventual sales price as well.

Tip: Ask your lender to prepare a payoff statement for you to check your figures. If there is a fee charged for the service, you can deduct it as one of the costs of selling a home.

230,000

50,000
180,000

Repairs to Your Home

The cost varies widely depending on the age of your home and how well it's been maintained. At the very least, you should get a home inspection to identify any possible problems to avoid being surprised by them at closing. You should plan on paying about $300 for a home inspection.

180,000

300
179,700

Pre-Sale Facelift

Again, the cost varies with the work that's needed to get the house looking its best. Conservative estimate: $300 for new paint, screws and hardware, carpet for living room floor and landscaping service

179,700

400
179,300

Moving costs

The cost of moving from one home to another are included in the cost of selling a home. It may be as little as $1000 to as much as $12,000 for a cross country move. Let's be conservative again - $3,000

179,300

3,000
176,300

Other relocation costs

You may need to replace appliances, pay off school transfer or gym fees, or pay storage for your furniture. There are many unexpected costs of selling a home which may amount to nothing, or add up to a good chunk of change.

Even without adding in other relocation costs, you can see how the cost of selling a home can reduce your final cash gain. The good news is that most of those costs are deductible on your taxes.