The business of selling residential real estate often reveals these competing priorities. Some homeowners are so attached to the home that you can sense they have grown roots down into the foundation and are essentially part of the structure, while others perceive the residence as a material component of their lives that can easily be traded in for another model.
Some people love their homes and feel an attachment outside of reason. It can be that the home brings memories of moments and times that are cherished. When the discussion of moving to another place comes about the body language and vocabulary clearly demonstrate they’re not moving. “They’ll take me from here straight to the cemetery,” is a far too common response. Often we also hear that there has to be room for the kids when they come back to visit. Living in the hope that they do come back to visit has an opportunity cost also measured in time, wouldn’t you agree?
What can you do with that time if you live near the kids? Or parents, siblings and those that are truly important in one’s life? Once we’re given the opportunity to decide, why do we let the four walls have such weight on the decision? Moving on and evolving is a conscious choice that is best made for oneself, isn’t it?
On the other hand there are those that are not attached to the home beyond its useful purpose. If another home comes on the market that is more suitable to their needs, they move. Really. No drama, just a decision made because it makes sense. This can be someone that is moving to a larger home because they have been graced with another child and need an extra bedroom. It can also be the family that is right sizing to a three-bedroom home because five bedrooms are too many for a couple. After all, it is cheaper to put the kids and grandchildren up in a five-star hotel the one time they do visit every year, than to pay the taxes on the five-bedroom home.
When the financial crunch came around some years ago, the perception by homeowners was more practical than emotional. We all know someone or another who defaulted on their loan as a financial strategy. No roots there. So, now that our homes are worth more than the debt on them, why the emotional attachment?
Eventually as homeowners grow older the inevitable conclusion is that it’s more about whom you’re with than where you are. This holiday season can be a very good barometer to help determine whom you want to be nearby for the foreseeable future.
The current real estate market allows for move-up, right size moves and relocation to Anywhere USA. Take full advantage and make good use of this market for the next phase in life. We’re all very grateful for a stable and appreciating market. If you can move to be close to “them,” (whomever it might be) then go for it! Tick, tock…vv