What Does It Cost to Upgrade to My Next Home in the Greater Tulsa Area?

Upgrading comes with two sets of closing costs: the costs of selling your current home and the costs of buying your next one. On top of those, plan for moving, any repairs before you list, and your down payment. The best way to see the whole picture is to put both sides side by side before you start: an estimated net sheet for your sale, and an estimate from your lender for your purchase.

Whether you're upgrading in Tulsa, Broken Arrow, Jenks, Owasso, Collinsville, Coweta, Glenpool, or Catoosa, the same costs apply.

I'm Christina Shortsleeve, a REALTOR® with REMAX Results, and I help first-time homeowners across the Greater Tulsa Area sell their starter home and buy the next one with a clear plan.

• Your loan payoff. The balance on your mortgage, paid at closing.
• Closing and title costs. Including updating the abstract, which the seller pays in Oklahoma.
• Prorated property taxes. Your share of the year's taxes up to closing.
• Repairs or concessions. Anything you agree to after the buyer's inspection.
• Preparing to list. Cleaning, small updates, and decluttering.

My article on what it costs to sell a house in Oklahoma walks through the selling side.

• Your down payment. Your lender tells you what your loan requires.
• Earnest money. It goes toward your purchase, but it's due when your offer is accepted.
• Inspection and appraisal. Usually paid before closing.
• Lender and title costs. Including the buyer's title insurance, which the buyer pays in Oklahoma.
• Prepaid items. Like homeowners insurance and property taxes set aside at closing.

Your lender gives you an estimate of your buying costs. My article on costs buyers miss covers the smaller ones.

• Moving. Movers, a truck, or storage if your dates don't line up.
• Two payments at once. If you buy before you sell, plan for overlap.
• Setting up the new home. Window coverings, a few furniture pieces for the extra space, and utility deposits.

Put both sides together. Before you list, I prepare an estimated net sheet, so you know what you're likely to walk away with from your sale. Your lender gives you an estimate for your purchase. Side by side, they show what you need for the upgrade.

That's the Run the Numbers step of The Next Chapter, my system for first-time homeowners ready to upgrade. My article on how much equity you need to upgrade covers the first number.

• Planning for only one set of closing costs. Upgrading has two.
• Forgetting earnest money is due early. It's needed before your current home closes.
• Not planning for the move. Moving and setup costs add up.
• Waiting to run the numbers. Start before you shop, not after you find the house.

What does it cost to sell and buy a house at the same time?

You'll have closing costs on both sides, plus moving costs and your down payment. An estimated net sheet for your sale and a lender estimate for your purchase show the full picture.

Who pays the abstract and title insurance in Oklahoma?

The seller pays to update the abstract, and the buyer pays for their title insurance.

Can I use my sale proceeds for my next down payment?

Yes. Your proceeds can go toward the down payment and closing costs on your next home.

When is earnest money due when I'm upgrading?

When your offer on the next home is accepted, which may be before your current home closes.

If you're thinking about upgrading, start with a complimentary home value, and when you're ready, send me a message. I'll prepare your estimated net sheet, so you can see both sides of the move before you start.

Christina Shortsleeve is a REALTOR® with REMAX Results in the Greater Tulsa Area, helping first-time buyers, homeowners ready to upgrade, and downsizers buy and sell with a clear plan. She has sold 127 homes since 2020.