A home can be many things: a personal oasis, an investment, a familial homestead—and a massive emotional and financial anchor. A property can become a burden, especially when it comes to selling a home as a result of death, divorce, financial setback, or a need to downsize. Letting go of a property can turn into a marathon rather than a sprint.
Some people take months, if not years to sell, while the emotional weight continues to pile up (along with the bills). Why do some sellers get stuck? Unresolved issues around letting go of a home can make it difficult for them to move forward.
Could you be sabotaging your sale? Here are four questions to ask yourself to see if you’re too emotionally attached to a home—and what to do about it if the answers are yes.
Are you putting off preparing the home for sale?
Not moving forward with getting your home ready for an open house is a huge red flag. Sellers may have to go through several rounds of getting rid of stuff, painting, and making repairs.If you’re selling a home that’s been in a family for generations due to a death, it brings an additional challenge.
Sellers can get bogged down in sifting through memories and minutiae.
Are you too emotionally attached?
When selling a home after a divorce or financial setback, it’s often because you have to, not because you want to. And that can trigger many emotions all at once, including shame, loss, and depression, according to Donna C. Moss, a licensed psychotherapist in private practice in New York, who speaks from personal experience.
Are you overpricing a home?
When you list a home for sale, it’s natural to want to get the best price. Yet a major pitfall of emotional attachment is over-pricing.
How to find the motivation to move ahead
If you’re feeling ambivalent about selling, you need to tap into your motivation and breakthrough. Money can be one and an unsold home means that other costs will pile up as well. Among them: another mortgage (if the place isn’t paid off yet); utilities; and property tax.
Read full article:Realtor.com