By looking at the transaction from a purely financial perspective, you'll distance yourself from the emotional aspects of selling the property that you've undoubtedly created many memories in.
It’s completely normal for you to become attached to your home. Not only did it probably cost you vast amounts of money, but it’s where you keep all your belongings and where you’ll spend a vast amount of your leisure time.
Therefore, it’s not unusual that when people come to sell their home they might find it difficult to let go. Emotions and sentimental value can get in the way of good decisions and cause a transaction to fall through.
The truth is we are human and sometimes we have no clue what the next step for our lives is. We know we need to sell for a multitude of reasons – perhaps the children have left home (hallelujah!) and it’s time to downsize, free up capital and cut down on maintenance; or you might be needing something that has the potential to extend as your family grows.
Here are some things to consider to allow for more detachment when selling your home.
- Are the memories holding you back? Many older homeowners are hesitant to sell their home because it’s where their children grew up and it’s filled with memories. This reasoning may be keeping people in homes that are too large and too expensive for them to maintain. If you know someone in this situation, it may be helpful to encourage them to do what they need to do.
- Are you hesitant to sell because the housing market’s down? Thing is, most people buy and sell in the same market whether it’s up or down. So waiting for the next boom might not necessarily work in your favour.
- Taking an offer too personally? Buyers will often state every single thing that they can find wrong with the property to justify a lower offer. Some sellers take this to heart, thinking that the buyer is doing this because the property isn’t worth as much as they believe. Take it as a good sign that they’re trying to haggle with you.
- Have you priced the house based on emotional attachment? Some home owners will price their house based on their own sentimental attraction to it. Try some styling/remodelling because these changes in appearance will not only assist the sales price, they’ll also help you create that emotional distance because the home will look less familiar.
I’m not going to lie – selling a home is not always a box of chocolates. The process can be stressful and frustrating even when the mechanics of the transaction are going smoothly.
Your home cradles many of your most sensitive emotions; you have countless memories and moments of wistful sentimentality while preparing the way for someone else to take this house of yours and make it their home.
When you are still emotionally tied to your home, it is difficult to remember to not take things personally. Whether it’s less than friendly feedback or whether it is an offer that you find ridiculously low, it is important to remember that this is not a personal stab at you but a business transaction.
The buyers and their agent are not emotionally tied to the home like you are - they didn’t grow up there. They didn’t watch their child take his first steps in the living room; their dad wasn’t constantly tinkering in the shed. They are looking at your home as a commodity.
I hope this has been useful to you. Many thanks for your time.