You visit a garage sale on a sunny Saturday morning and find a bicycle that you think would be perfect for your child. You look at the price tag and it’s about twice as much as you would expect to pay. When you question the owner, he says, “That bike has a lot of sentimental value for me. I couldn’t let it go for less.”
Chances are, you’ll pass on the bike. The owner sees the bike and happily remembers teaching his daughter to ride it. What you see is just a bike! You can’t buy someone else’s memories.
This scenario sometimes plays itself out in real estate. A homeowner has fond memories of his home. He may have renovated the den himself and is proud of his work. He may delight in memories of family BBQs on the deck.
That doesn’t mean the house will sell for more than its market value.
So when you put your property on the market, make sure emotions don’t get in the way of pricing it properly.
Fortunately, memories will stay with you, even without your house. You’ll be able to happily take them along to your next home.
When you purchased your current home, chances are it was a good match for your lifestyle. It had the space you needed, the features you wanted, and a location that worked for you.
But for most people, lifestyle and needs evolve through the years. Kids get older. Jobs or careers change. People take on new hobbies and other interests.
As a result, the home that was ideal a few years ago may not fit with your current lifestyle.
That doesn’t necessarily mean you need to shop for a new home! However, it may mean that it’s worth taking a look at the market and seeing what’s possible.
Think about the kind of home that would support your lifestyle today. Ask questions like:
- How many bedrooms do we need?
- How easy is it to travel to work each day?
- What special features do we want in our home? (Big backyard? Rec room? Quiet area?)
- What do we want nearby? (School? Playground? Walking and biking trails? Shopping? Entertainment? Golf?)
- What else does our home need in order to support our lifestyle?
After asking yourself some of these key questions, ask other family members for their opinions too.
You may, in fact, find that the property you have now is still ideal for your lifestyle.
If, however, your home is no longer a good fit, you have options. You can stay in your current home despite it no longer being ideal, you can make some changes (a renovation, perhaps), or you can see what’s available in the housing market.
When a hotel wants to make a room look inviting, they start with the bathroom. They clean it until it sparkles. They place fresh towels everywhere. They make sure the soap bars and shampoos are new. Some hotels even fold the end of the toilet paper into a nice neat triangle!
Why all the fuss?
Hoteliers know that if a customer is impressed with the bathroom, they will likely feel the same way about the rest of the property.
Something to think about when selling your house.