Sentimental Value is NO Value

Reblogger Suzanne McLaughlin
Real Estate Agent with Sabinske & Associates, Inc. (Albertville, St. Michael)

While sentimental value may be NO value, there are some things that show you have cared for the property, and may actually increase the value. 

You cannot give value to something that is intrinsic, but you can convert care and pride of ownership into $$$$.

Now, read this and go thank Judi for a great blog post. 

Original content by Judi K Barrett

Sentimental Value is NO Value

 

Your home may have a lot of sentimental value to you.  It may be compounded by it's location, close to where you grew up, or maybe because you raised your kids in the home...Kelly took her first steps right there down that hallway... you spent the last 24 years of your married life together in that home... watched the neighborhood change... bought your gasoline from Fred down at the corner gasoline station.  Those doors were ordered from Mary's father when he ran the local lumber yard. 

 

That's wonderful... but on the real estate market, sentimental value does not count.

 

Sentimental Value has no value when you get ready to sell your home.  Have you ever tried to take sentimental value down to the bank and deposit it into your checking or savings account?  Try it sometime.  If it works, please let me know because just about every home I list has sentimental value to the sellers.  You're not the first one to think it should equate into more money on the closing table. 

 

Some of those things that you value in your home, though, will equate into a better offer. 

  • You value a clean home... that helps it sell and usually bring a better offer.
  • Your sentimental value that is attached to those solid wood doors has probably prompted you to take better care of them and being in good condition should help you get more for your home.
  • The rose bushes that you lovingly planted in the flower beds.. YEP! That's a plus.
  • The swing on the front porch that you've sat in many times and watched the kids play, probably. 

 

BUT some of the things that you value can actually hurt your sale.

  • The out dated kitchen appliances
  • Worn door knobs and cabinet handles
  • Dripping faucet in the bathroom

 

Anything that speaks to it's function and attractiveness being all used up, needs to go.  If a timely sale at a good price is important to you:

  • Paint what needs to be painted.
  • Repair or replace what needs to be repaired and/or replaced.
  • Pack the small sentimental mementos and things that will have no meaning to a buyer.. put them away.. make your home less cluttered and roomier. 

 

And last but not least...   Please don't try to convince the buyers of the value of your home due to it's sentimental value to you..  when buyers look, you need to be somewhere else, not home trying to bump the offer. 

Image courtesy of Jarnott

Judi Barrett Southeast Oklahoma' best real estate broker Integrity Real Estate Services 580-212-5946

 

Looking for a home for sale in Idabel, Oklahoma?  Let me Google that for you. 

 

 

Judi Barrett, Broker, Integrity Real Estate Services, Office Address:  RR 5 BOX 126, IDABEL, OK 74745  580-212-5946

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Rainer
26,846
Leah Henderson
Asset Realty, Inc

This is such a crucial issue. Especially in a market where new homes predominate and are similarly priced.  I understand the difficulty; however, there is no way around the big three: price, condition and location. Unfortunately, memories have no intrinsic value for the new buyer.

June 11, 2011 07:44 PM
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Gary Woltal
Assoc. Broker Realtor SFR Dallas Ft. Worth
Keller Williams Realty

Suzanne, sellers get stuck on sentimental value with emotions tied to for example remodeling I have seen. I painted that deck two summers ago and need my $2,000 back. You have to point out it is a product and besides they are moving away.

June 11, 2011 08:43 PM
Rainmaker
493,806
Lora "Leah" Stern 914-772-4528
Real Estate Salesperson
Coldwell Banker, 170 N Main Street, New City NY 10956

The emotional attachment that comes from your home will not do a thing for the buyer.  They have to love it because they see themselves capable of turning this house of yours into a home for themselves.  The condition of the house will matter to them and the price but some of those extras that you've enjoyed will just not have the same value to them that it does to you.

June 11, 2011 10:55 PM
Rainmaker
501,345
Mary Douglas
REALTOR, Red Feather Lakes, Colorado
United Country Ponderosa Realty

Hi Suzanne, this was a great reblog!  The dent in the siding near the garage door that happened when Susie was learning to drive isn't endearing either! LOL

June 12, 2011 03:00 PM
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Judi K Barrett
Broker/Owner, Integrity Real Estate Services -IDAB
Judi Barrett~Integrity Real Estate Services~Idabel, Oklahoma

Suzanne,

I am honored that you would re-blog.  Thank you and I hope both our clients read and heed.  :)

June 13, 2011 07:31 PM
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Suzanne McLaughlin

Wright & Sherburne Counties Realtor
Need Information for Wright or Sherburne Counties, call me!
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