Are you too emotionally attached to your home to get itÂ Sold?Â It's okay, we all are, Â even if we don't admit it out loud. Being too emotionally attached can slow your home sale. It can be hard to face some facts. Most likely, your home will not command the price you want. It might be hard to cut your losses and move on. And you may find you have more emotional ties to selling your home than logical ones.
I found this to be true when I put my home on the market. Â I've been selling homes for over 20 years but I saw myself in the same trap as other sellers.Â Â I raised my family here.Â I love my neighbors.Â I really hated to move. I've sunk so much money and love into my home.Â Â Â But it was time to go.Â I had to remove my emotions and treat this as a business transaction.
Â We all have an â€œanchorâ€â€”a fixed price for which we think our home should sellâ€”and we donâ€™t want to sell it for less than that amount. Often, our anchor is based on what we paid for the house and what we feel it should be worth now, even if market conditions have changed dramatically. We need to get past that emotional anchor. Letâ€™s face it, your home is worth what someone is willing to pay forÂ it.Â
Â When we've put money into something that we canâ€™t get back, we have a tough time cutting our costs and moving on. For instance, if you remodeled your deck, you may not be able to recoup that money when you sell. Â You need to realize that money is a sunk costâ€”it already has been spent and you wonâ€™t get it backâ€”and move on.
Â How do you find the right asking price? It comes down to supply and demand.Â How many homes are on the market that are in direct competition withÂ your home?Â Is the competition newer? Are they inÂ more desirableÂ locations? Do they have a more updated floorplan? All these things matter to a buyer so we have to take them into account when we price our home.
So what do you as a seller do?Â You do like I had to do.Â Take off the blindfold and listen to the experts.Â Your real estate agent is in the market every day.Â They know what buyers are looking for and what they are willing to pay.Â Even with my experience I pulled in experts from my office to "give it tom me straight."Â I didn't like what I heard but they were right.Â When I priced it to sell...it Sold.
If you need to sell your home, move beyond the emotional ties and and treat this process as a business transaction and move forward.