How To Calculate The Costs To Hold A Property In Kalamazoo

How To Calculate The Costs To Hold A Property In Kalamazoo

When you are thinking about selling your Kalamazoo house, be sure you know the costs to hold onto the property. Keeping the property might be costing you more than you think. In our latest post, we will look at the most common holding costs homeowners face when trying to sell their homes in Kalamazoo.

Holding costs can quickly eat away at the sale price you will eventually receive for the home. There are several costs you will be responsible for as long as your house is on the market. When selling your house to a private buyer who requires financing, the process to sell your Kalamazoo house can take months, resulting in potentially thousands of dollars you will have to spend. However, when you sell your house directly to Ryan Buys Houses, the holding costs can be eliminated in only a matter of weeks!

Mortgage Payments

The most obvious expense is the monthly mortgage payment. If you own a house you’re not happy with or if you are paying a loan on an underperforming rental, the hefty mortgage payment can be a lot to deal with each month. Your mortgage is undoubtedly at least a few hundred dollars a month. This is money you could be spending on a new property instead of the one that’s no longer working for you.


Whether or not you are living in the home while it is up for sale, you will need to make sure the utilities are working for any potential buyer who may want to see the home. They will likely check out the light switches and the water pressure; things that can’t be done if you have turned off your utilities. In addition, inspectors will need the utilities on to do their job. While your bills might be lowered if you are no longer living in the home, you should still plan on paying a few hundred dollars each month to your utility bills.

Property Taxes

Depending on where you live, the taxes can add up fast. People living in states like New Jersey or California will see these costs eat away at their profits even faster due to high property taxes which must be paid. You are responsible for the taxes up until the closing date. When working with a traditional buyer, the closing can take months due to the lenders. When selling directly to Ryan Buys Houses, your financial obligations to the home can end in only a matter of a couple weeks.

Homeowners Insurance

Homeowners insurance is a necessary evil for every homeowner. Depending on your home and policy, your insurance can help to quickly eat away at your profits. While you are listed as the owner, you will be responsible for the insurance costs. You should also keep in mind that insurance will be high for landlords as opposed to owner-occupied properties.


If you decide to list your Kalamazoo house, your home will inevitably need maintenance work while it is listed on the MLS. A good rule of thumb is to set aside 1% of the property’s value for routine maintenance and minor repairs each year. This way you aren’t blindsided by unexpected costs while trying to sell your home. Please remember the faster you sell the less maintenance you will be responsible for on your home.


In addition to the regular repairs and maintenance you will likely face, there is always a chance a major repair will be needed while you are waiting for a buyer.  Things like this can be costly but should be fixed to attract more buyers. You should always have an emergency fund set aside to deal with such expenses so you aren’t stuck with damaged property while trying to sell it. When you sell directly to Ryan Buys Houses, all expenses are covered. Repairs and all; we buy as-is.

HOA Fees

If the property is in a private community, you’ll be stuck with those homeowners’ association dues until you are no longer listed as the owner of the house. Depending on your community, HOA fees can be high, and some can rapidly change. Don’t forget to factor these costs in when it’s time to sell. Things like this can often be overlooked when trying to sell the property.

As a homeowner in Kalamazoo who wants to sell, it is important you keep all of your holding costs in mind. When they are all added up, the amount can be thousands. This can severely alter how much you are making on the sale. When selling your house in Kalamazoo, don’t forget to account for the holding costs. Please reach out and find out how a direct sale of your property will benefit you!

To help better understand the costs to hold a property in Kalamazoo, get in touch with Ryan Buys Houses today! (269) 775-4095

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