It is completely normal to have an emotional connection with your home. However, you can’t afford to let feelings hold you back when you are selling your home.
It doesn’t matter if you are a baby boomer downsizing, an owner-occupier upgrading or an investor aiming to profit. You must keep your feelings in check in order to sell your home quickly and for the highest possible price.
Most people feel that their home is not just an asset. It is a space they associate with family, security, happiness and comfort. This is the reason a mounting body of research states that selling a home can be one of the most stress-inducing experiences of a person’s lifetime.
Depending on your situation, there are various reasons for your attachment but the following are the most common:
It is the place of your childhood memories
Our home is the setting of our lives. It is where we grew up, spending many blissful moments with family and friends. These memories are an important part of your identity and give us the feeling of connection to the place where the memories happened.
It links you to family history
In certain situations, a home has been handed down through generations, or has played a major role in family connections. Thus, some people find it difficult to let go and can feel like they are losing a family member.
It is the place where you celebrated milestones
Celebrations at home are a huge part of life including birthdays, barbeques, engagement parties and even the occupational backyard wedding. We frequently reminisce about these special times with our home starring prominently in the memory.
You made your home your own
It is seldom that people move into a house and not make any changes. Whether it is getting new furniture, applying a fresh coat of paint, or adding a new deck, you may have done something in your property. This brings out a feeling of pride and a powerful connection that can be hard to ignore when it is time to move on.
Use your emotions or ignore them?
Though it seems counterproductive, there are some instances when sellers can channel their love of their home towards helping in finding a new owner by thinking like a buyer.
If you feel pride in your home, you are more likely to pay more attention to it and make sure it is ready before putting it on the market.
Homeowners who are emotionally involved are more likely to choose a real estate agent who cares and will make an effort to highlight all the major features when leading prospective buyers on open inspections.
These are constructive ways to utilise your emotions to get better results, but many sellers will let their emotions get in the way. This could lead to rush decisions that may cost massive amounts of money.
Emotional reasons for selling your home
Death, a serious injury and other major life events in the family are typical reasons for selling a home, often creating more emotional burden for the sellers.
In other instances, family relatives are so advanced in age that they can no longer care for themselves and their home.
Certainly, divorce is one of the hardest situations that can trigger strong emotions. Selling can be made complicated when one or both parties don’t want to move or agree on the price.
However, the emotional toll is not only felt by owner/occupiers. Investors can also feel a roller coaster of emotions when selling an investment property. This is particularly true when there is a deadline they must meet, a tight budget, or the need to offload in a declining market.
Tips to prepare yourself emotionally
The best way for sellers to move forward is through detachment. Say goodbye to your home and begin viewing it as a “product” at the early stage of the process. It is also vital to do market research and to keep an open mind.
Tips to keep your emotions in check when selling:
- View your house not as a sentimental asset but as a product
- Conduct research to make sure you price it correctly and be familiar with market trends
- Bid your house farewell as you prepare it for sale and ensure you are pleased with what you are putting on the market
- Use impersonal items for staging your home, so it starts to feel less like your home and more like someone else’s home
- Ensure you hire an agent to list and sell the property – it will be far more emotional if you try listing the property yourself
- Place yourself in the shoes of the buyer, think about how glad the next family will be in the home you helped build
- Be familiar with what the market is doing and be sensible about its time on the market
- Make sure not to be around when prospective buyers visit. If it upsets you to hear feedback from prospective buyers, request for your agent to keep details at a minimum
- Keep your attention on your new home. Think about the positives and visualise living in the new home.