Virginia Beach home values hit a new high in 2025 — up 4.17% year-over-year, more than double the national average. If you've owned your home for five years or more, you've built serious equity. But before you count your proceeds, it helps to know exactly what it costs to turn that equity into cash.
The Full Cost of Selling a Virginia Beach Home
Real Estate Commission
Commission is your largest cost. Post-NAR settlement, listing agents in Virginia Beach typically charge 2.5% to 3% to market and sell your home. Many sellers also offer 2% to 2.5% toward buyer's agent compensation as a concession — expanding the buyer pool and increasing competition for your home.
Total commission range: 4.5% to 5.5% of the sale price. On a $425,000 home — near the current Virginia Beach median — that's $19,125 to $23,375.
Virginia Grantor's Tax
Virginia charges sellers $0.50 per $500 of the sale price. On a $425,000 sale: $425.
Settlement Fees
Title company settlement fee, deed prep, and recordation: approximately $700–$1,000 for the seller's portion.
Prorated Property Taxes
Virginia Beach's property tax rate is $1.012 per $100 of assessed value. On a $425,000 home: roughly $4,300/year. If you close in the middle of the year, expect to credit the buyer about $2,150 in prorated taxes — though the exact amount depends on your closing date.
Mortgage Payoff
Your existing mortgage is paid off at closing from the proceeds. This isn't a cost per se, but it reduces your net check. Expect $100–$250 in lender payoff and reconveyance fees.
Pre-Sale Preparation Costs
These aren't closing costs, but they directly affect your final sale price — and skipping them often costs more than spending them:
Deep cleaning and declutter: $300–$600.
Paint touch-ups or full interior repaint: $1,500–$4,000 depending on scope. Fresh neutral paint consistently returns 2–3x its cost.
Landscaping refresh: $300–$800. First impressions matter — especially in Virginia Beach where outdoor living is a selling point.
Minor repairs: Budget $500–$2,000 for items that will show up on inspection — leaky faucets, HVAC filters, caulking, smoke detectors.
Repair Credits After Inspection
After the buyer's inspection, you may receive a repair request. In Hampton Roads, repair credits of $1,000–$5,000 are common on homes priced below $500,000. You can negotiate whether to make the repairs or offer a cash credit at closing.
Full-Picture Cost Summary: $425,000 Virginia Beach Home
Commission (5%): $21,250
Grantor's tax + closing fees: $1,300
Prorated taxes: $2,150
Pre-sale prep: $3,000
Inspection credits: $2,000
Total estimated costs: ~$29,700 (7.0%)
Estimated net at closing: ~$395,300 — before paying off your mortgage balance.
One More Number Worth Knowing
Hampton Roads home values rose 4.17% in 2025. If you bought a $375,000 home five years ago, it's worth roughly $450,000–$475,000 today. Even after selling costs, you're likely looking at significant equity — especially if you've been paying down your mortgage. The question isn't whether selling makes financial sense. It's whether now is the right time for you.
Ready to Make Your Move?
Whether you're buying, selling, or just getting your bearings in this market — I'd love to help. I'm Barry Jenkins, REALTOR® serving Virginia Beach and the greater Hampton Roads area. Let me show you what this market can do for you.
📞 Call or text: 757-919-8874 | 🌐 legacyhometeamlpt.com