Could Your Emotions Stop You From Selling Your Home?
Selling your home is a hard and stressful experience at the best of times, but it can often get tangled up with personal emotions and sentimentality. Whilst it’s not easy trying to take an emotional step backwards, it can make a difference in clinching that all-important sale. Read on to find out more.
Emotional ties. Our home is the place where we formed many memories, where children have grown up and where we spend our time relaxing and socialising, so it’s no wonder that emotions get caught up in the process of trying to sell a house.
For an estate agent trying to market your house for you, and potential buyers who have no history with the house, there are no sentiment or attachments involved, so they are operating on an entirely different level than you. They will see things differently and will react differently, so if you want to make the process of selling easier, you really need to get into that same mindset.
Once you put your house on the market, you have to take an emotional step backwards and view the house as no longer yours. Try to view yourself as a businessperson rather than the homeowner, and see the transaction from a financial perspective.
You’ll find it easier to feel less emotionally attached to your house if you try and make it look saleable. This might mean removing personal possessions and sentimental items from view, such as photos and keepsakes. It could also involve rearranging furniture or clearing away items so the house looks more like it’s on show, rather than your home. It will give prospective buyers an easier way of seeing your house from a more neutral perspective and enabling them to see how they could fit their lives in there.
Don’t take things personally. If you’ve built years of memories in your home, and modelled and furnished it the way you want it to be, it can be soul-destroying to receive negative comments and feedback from prospective buyers about your loving home. If you’ve spent a lot of money decorating your home in a certain style or bought new oak doors for all the rooms, for example, and potential buyers don’t share the same enthusiasm as you for them, try not to take it personally. We all have different styles and tastes, and they may just be using this as a ploy to get you to reduce the price. Try to see it as a positive sign that they are at least open for negotiating.
Money matters. Similarly, try to detach emotions when it comes to the price of your property. It can be easy to think your home is worth more than the market value because it was special for you, but over-inflating the asking price isn’t going to get you any offers on the table. Don’t be disheartened if you get really low offers as well. It’s a good sign that buyers are interested in your property, but they might just be trying to get it for the lowest price possible.
Be realistic as well, though. If market values have been dropping for a while, then you might end up losing money on your property because of the declining market, which has nothing to do with sentiment and personal attachment. That doesn’t mean to say you should discard any offers you get. Remember if you’re selling in a depressed price market, it also means you could buy a house at a reduced rate, as well.
About the author: This guest post was written by Crispin Jones for Principal Homebuyers – a service that matches sellers and buyers when a quick sale is required.