Today I’m sharing a real-life example of why sellers should never leave the quality of life out of their home-selling equation.
Although 90% of the people I work with are not investors, I find that many of them think like investors, asking questions like, “When’s the best time to list so that we can get the most amount of money?” or “How can we position our home on the market to maximize our sale?”
Of course, those things are important, but what a lot of homeowners don’t do enough of is focus on their quality of life. In other words, what is your quality of life in your current home, and how will that change when you move into a home that’s better for you?
Here’s a real-life example to drive my point home: I met a client last week who lives in a three-level property, and whose parents live in that third level. Mom and dad are older, and their knees don’t work so well; they’re exhausted from having to march up and down two stories’ worth of stairs every day.
Despite their parents’ dissatisfaction, my client was more concerned with timing the market to get top dollar on their home sale. My response to their market questions is simple: How is your quality of life? How is the third-floor bedroom affecting your parents? Is selling for an extra 1% to 2% worth their continued unhappiness?
“What I am stressing is that, when considering giant life decisions, quality of life should be a top factor.”
Again, I’m not saying that market timing isn’t important, nor am I implying that you shouldn’t want to sell your home for the most amount of money. What I am stressing is that, when considering giant life decisions, quality of life should be a top factor.
My goal when I work with a seller is to maximize the home sale and squeeze out every penny of equity, but also make sure that at the forefront of the whole process is a commitment to their quality of life.
If you’re a potential seller, know this: The 2020 market has begun aggressively. We’re experiencing activity typically reserved for March and April because inventory is so low. If you’re waiting for those traditional spring months, you may want to consider selling sooner than later to take advantage of these unique market conditions.
Secondly, sellers, consider your quality of life; in my opinion, it’s worth more than anything else. You could time your home sale around what the market’s doing, but an equally valid move is to time your home sale around your quality of life. Perhaps you’re just sick of your current living conditions, and it’s enough grief to make you say, “I’m selling right now!”
Once you have your ‘why’—improving your quality of life—then you should work with your agent to answer questions like, “What can I do right now in this market to maximize my net?”
If you have questions about this or any other real estate topic or are considering making a real estate move in 2020, please feel free to reach out to me. Even if you simply want to pick my brain about something, I’d be happy to talk with you.