Selling My Home Calculator
Selling a home is a major financial decision—and often a complicated one. Between agent commissions, mortgage payoffs, closing costs, and unexpected expenses, many homeowners are left asking, “How much will I actually walk away with?” That’s where our Selling My Home Calculator comes in. This free, easy-to-use online tool simplifies the process, helping you quickly calculate how much money you can expect to pocket after selling your property.
Whether you’re preparing to move, downsizing, or simply planning ahead, understanding your potential home sale proceeds is crucial. Let’s walk through how the tool works, how to use it, and why it’s a must-have resource for every home seller.
How to Use the Selling My Home Calculator: Step-by-Step Guide
Using our calculator is straightforward, and it only takes a few inputs to get accurate results. Here’s how to use it effectively:
1. Enter the Selling Price ($)
Input the price at which you expect to sell your home. This could be your asking price, a realistic appraisal, or a competitive market estimate.
2. Enter the Remaining Mortgage Balance ($)
Type in how much you still owe on your home loan. This will be deducted from your proceeds once the home is sold.
3. Input Agent Commission (%)
The standard real estate agent commission in many areas is around 6%, but this can vary. Enter the actual or expected percentage you’ll pay to your agent.
Tip: The calculator defaults to 6%, but you can adjust this if you’ve negotiated a lower fee.
4. Add Closing Costs ($)
Closing costs typically include title fees, escrow fees, taxes, and legal services. If unsure, a rough estimate of $3,000 is already pre-filled.
5. Include Other Expenses ($)
This is where you can add miscellaneous selling-related costs—like home repairs, staging, or moving expenses.
6. Click “Calculate”
The calculator will instantly display:
- Agent Commission Cost
- Total Selling Costs
- Net Proceeds
7. Use “Reset” to Start Over
Need to tweak your numbers or compare scenarios? Click “Reset” to clear all fields and begin again.
Example: Selling a Home for $500,000
Let’s say you’re selling your home for $500,000. Here’s a typical breakdown using the calculator:
- Remaining Mortgage: $300,000
- Agent Commission: 6%
- Closing Costs: $3,000
- Other Expenses: $2,000
Results:
- Agent Commission: $30,000
- Total Selling Costs: $335,000
- Net Proceeds: $165,000
This gives you a clear idea of what you’ll actually earn after paying off your mortgage and all selling-related expenses.
Why This Calculator Matters: Real Benefits
✅ Instant Financial Clarity
You don’t need spreadsheets or guesswork. One quick calculation shows what you can realistically expect after selling.
✅ Scenario Planning
Test different sale prices, commission rates, or mortgage balances to evaluate how each impacts your net proceeds.
✅ Better Negotiations
Know your bottom line before entering price or commission negotiations with buyers and agents.
✅ Financial Planning
Plan your next move, whether it’s buying another home, investing, or simply saving the proceeds.
Extra Info: What Affects Your Home Sale Proceeds?
- Home Value & Market Conditions: The sale price has the biggest impact. Be sure to get a proper market analysis.
- Outstanding Mortgage: The more you still owe, the less you’ll take home.
- Agent Commission: You may be able to negotiate this, especially in competitive markets.
- Closing Costs: These vary by location and can include taxes, escrow, and transfer fees.
- Home Improvements: Last-minute repairs or updates can raise the sale price, but also cost money upfront.
- Concessions to Buyers: If you agree to pay for buyer closing costs or repairs, this reduces your proceeds.
Frequently Asked Questions (FAQs)
1. What is a home sale calculator?
A home sale calculator estimates how much money you’ll earn after selling your house by deducting expenses like mortgage balance, agent commission, and closing costs.
2. Is the calculator accurate?
Yes, as long as you input realistic and accurate numbers. The calculator is based on standard formulas used in real estate transactions.
3. Can I use this tool if I’m selling without an agent?
Absolutely. Simply enter “0” for the agent commission percentage if you’re selling your home yourself (FSBO).
4. What if I don’t know the exact closing costs?
Use the default $3,000 or consult your real estate agent or closing attorney for a more precise estimate.
5. How do I calculate agent commission?
Multiply your home’s sale price by the commission percentage. For example, 6% of $500,000 is $30,000.
6. Does this calculator include taxes?
Only if you manually include taxes in the “Other Expenses” field. Taxes vary by location and are not automatically factored in.
7. What is included in ‘Other Expenses’?
Repairs, moving costs, staging fees, home warranty, and buyer concessions all go here.
8. Will I have to pay capital gains tax on my net proceeds?
Maybe. If you’ve lived in the home for 2 out of the last 5 years, you may qualify for a capital gains exclusion. Consult a tax professional.
9. Can I use this tool for rental property sales?
Yes, though you should also factor in depreciation recapture and other tax implications when selling rental properties.
10. How do I estimate my remaining mortgage?
Check your latest mortgage statement or contact your lender for a current payoff amount.
11. What happens if my home sells for less than my mortgage?
That’s known as being “underwater.” You may need to bring money to closing or negotiate a short sale with your lender.
12. Is agent commission always 6%?
Not necessarily. It can range from 4%–6%, or even lower. It depends on your location and the agent’s services.
13. Are there any hidden selling costs I should know about?
Yes—things like HOA transfer fees, home warranties, and pre-sale inspections can add up.
14. Should I include home repairs in this calculator?
Yes, if they are part of your plan or required to close the sale. Add them to the “Other Expenses” field.
15. Can I download or print the results?
Currently, you can take a screenshot or manually note the numbers. Export features may be added in the future.
16. Can I compare multiple sale scenarios?
Yes! Use the “Reset” button to try different home prices, commissions, or expenses and compare your net proceeds.
17. Does the calculator work on mobile devices?
Yes, the calculator is fully responsive and works smoothly on both desktop and mobile browsers.
18. Is this tool free to use?
Yes! It’s completely free—no sign-up or download required.
Final Thoughts
Selling your home doesn’t have to be a financial mystery. With the Selling My Home Calculator, you get instant clarity on what truly matters: how much you’ll take home. By entering just a few numbers, you’ll walk away with a clearer picture—and greater confidence—in your next real estate move.
Try the calculator now and make smarter, faster, and more informed decisions about your home sale.