Some of our earliest memories are set in our childhood homes, our families’ homes and vacation spots. These early mental pictures form a sense of our most base comforts and values. They provide a measure by which we look to establish our grown up homes so as to provide the same memories for our children.
As the seller, the decision to sell your home may prove more difficult than you considered. After all, you can’t pack up the spot your daughter took her first steps or your son threw his first baseball. Our memories aren’t complete without the emotional ties that we form around them. However sensible our reasons may be for selling, we also have our sentiments to consider. You will be moving into a new house full of potential for new memories and opportunities.
Regardless of the stage we are at in our lives, fundamentally we will only buy a home we can picture ourselves living in. Emotions are an integral part in selecting a home as well. We believe ourselves to be shopping with a list of practical necessities however once we walk through the front door of our dream home, the list is “chucked” and we begin thinking of it as “MINE!” or “SOLD!”.
How did that happen?
It goes back to those childhood memories. Your ideals stem from where and how you grew up. Perhaps your parents were of modest means and had a small little family home that was quaint and simple or were doctors who hired decorators and never let you sit on the “good” furniture. Everyone’s tastes vary as much as their reasons for liking or disliking a property when attending open houses. Not sitting on the furniture may have you looking for a children friendly home or not having much privacy growing up may leave you craving a larger house.
How we choose to decorate or furnish our home is effected in the same way. A parents’ professionally decorated home may have set the standards for your own or perhaps now you prefer simplicity and the bare essentials. If you grew up with standard white walls, colour may be very intimidating and a big change.
If we only pay attention to the financial aspects of purchasing a house, then you may overlook some of the important aspects that turn it into a home. You may think, “Oh, I’ll be ok with that shag carpeting and I can clean to get rid of that smell.” Unless you are prepared to renovate and update the house as soon as you move in, you had better be prepared to live it the way it is when you move in.
Emotions also tend to determine how much you are willing to pay for a home. If you’ve always wanted a little reading nook complete with window seating and the house you are viewing has that plus a great view of a beautiful yard, you are going to be more strongly attracted to it than one that doesn’t. And you will be willing to pay more. If the house is exactly what you are looking for however it means that your children would attend less than ideal school, you may choose to walk away or offer less.
We often try to ignore our emotional response during major financial transactions, seeing it as a weakness and impulsive. Impulse purchases are made using only our emotions, insecurities or subconscious motivations, however if we measure how we are feeling about a purchase along with the practical necessities and facts you will make a more comprehensive decision.
Whether we are selling or buying a house, our emotional attachments to what defines a “home” will determine perceived value in asking price, offers and selling price.
The first stage to selling your house