Emotions play a crucial role in all our decisions, whether big or small, and whether you are aware of it or not.
In real estate buying and selling, emotions, expectations, and mindsets can potentially bring costly mistakes and regrets.
Here we will discuss scenarios in the course of selling and buying a home where you can expect emotions to run high.
Emotions in Selling the Family Home
Emotionally detaching from your home (and accumulated possessions) could be one of the biggest challenges of your life… fueled with both positive and negative emotions. Many carry sadness, anger or regret preventing them from fulling enjoying the next phase in life.
Logic vs. Emotion – Setting Them Straight
Emotions can prevent you from seeing things as they truly are. Experienced real estate professionals easily recognize the signs and symptoms.
After all, much of the real estate industry projects feel-good images in ads… glossy photos of homes… and professionally staged homes… all designed to appeal to your subconscious and manipulate your emotions!
The logic side of our brain needs to enter the picture before emotions ruin the day and prevent making a smart decision.
Establish If You Truly Need to Make a Move
Go back and double-check your situation, highlighting all the compelling reasons to move. Evaluating facts, features and benefits is important. Be sure the decision is in the best interest of your family and have concrete proof to back your decision. Otherwise, it’s just emotions pushing you.
Talk to friends, family or professionals – get feedback and let family members in on the conversation. Understand their emotions and feelings… clear the air and get their support before you move forward.
Real Estate specialists working with pre-retirees and seniors can help you ponder these questions and make the best decision. They’ve seen it all before and will present options and explain details you probably haven’t considered.
It takes time to prepare emotionally -recognize that it takes time to come to grips with letting go of all the memories and comforts built up over the years. Start early and ease into the process, well before moving day comes.
Related Article: Why Making a Move in Advance is Smarter than Being Forced To
Questions to Address
Do you truly have to sell?
Is there a reasonable way to stay in your home… making necessary renovations… having family members or children move in to help out?
Who is it that wants you to make a move? Do your kids want you to move closer to them… so they can visit you more? Will they take care of you as you age?
A nice idea, but don’t get uprooted from a comfortable home and community…. losing independence and self-esteem. Try not to compromise all the things you personally enjoy.
Downsizing for “breathing room” financially – To stretch savings and live comfortably, the lower costs and manageable size of a smaller home can bring many benefits… just verify any future costs and expenses before deciding.
Lessening the Sting of Leaving
Envision yourself in your new home, with all your belongings. Make sure you take something special from your old home with you. Place it prominently in your new home to keep your connection alive!
Make sure the home falls into good hands – maybe you won’t have much control over this, but you might feel much better about your home passing to a new family, like yours once was.
Making a business decision
It’s hard to think of your home as a product, but it may come down to just that… marketing your home correctly to catch the right buyer and get the right price for your home.
Be sure not to overprice your home – unfortunately the personal emotional value of your home carries no weight with a buyer. Also, if you bought the home at a market peak, you might have to sell for less than what you expect.
Other emotions
We humans like the familiar so we may feel uneasy and even critical when something new is presented to us. As you begin shopping for your replacement home, expect to feel this emotion as you tour homes and new neighborhoods.
One day, your new home and surroundings will feel familiar to you.
