You visit a garage sale on a sunny Saturday morning and find a bicycle that 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.
While, the owner sees the bike and happily remembers teaching his daughter to ride it… all you see is, well, just a bike! And you likely aren’t shopping around for someone else’s memories; you just want the bike.
This scenario sometimes plays itself out in real estate.
A homeowner has fond memories of her home. She may have renovated the den herself and is proud of her work. She may delight in memories of family BBQs on the deck.
But no matter how much she loves her home and all those memories, none of those memories will make her home sell for more than its market value.
My point? When you put your property on the market, make sure your emotions don’t interfere with pricing it properly.
Fortunately, your memories will stay with you, even without your house. You’ll be able to happily take them along to your next home.
Not sure how to price your home appropriately? That’s what we’re here for! Give us a call, and we’d be happy to help you today.