Selling the family home can be an emotional journey, and a financially disappointing experience for many. The initial decision can be forced (a death, or reduced means due to retirement) or as part of a natural transition from family home filled with children to empty nest with dust fairies gathering in the corners.
However it is the separation between personal value – which given the number of years and experiences involved can be very high indeed, versus the dollar value of the day in the property market – which can cause the greatest distress in the process of selling a home.
Often is it up to the owner’s children to make the decision to sell and drive the process of the sale – from engaging an agent to making the move to a new property.
Over-all, selling the family home is a good decision if it no longer fulfils the practical requirements of the residents. Large gardens become overwhelming and those 3 separate bathrooms that were a godsend for the teenage years are now nothing but more surface area that requires cleaning. But emotional ties are stronger than mould remover and deeper than the root systems of invasive weeds. They can lead people to make irrational decisions and ultimately leave the vendor feeling disrespected and ripped-off.
If you are involved in selling a much loved family home, there are some practical steps you can take to lessen the impact that emotions have on the sale of the property.
1). Plan a holiday
If the property is going to auction, the last thing you need to do is to be there for all the action. Emotions are running high, expectations even higher and the stress of the event will mean – no matter what the outcome – heightened emotions. Plan to NOT be there for the actual sale – in fact the further away you can be, the better. Your emotional investment in the sale will have no impact on the outcome what so ever, so disengage as much as you can from the outcome. For the very brave, go somewhere with no phone or internet connection!
2). Move house prior to the sale
Part of the sales process is the packing up and moving of your belongings – the majority of which will feel like they ‘belong’ in the house. If you are able to get bridging finance or rent another property, move out well before the sale. Once you have settled into your new accommodation, you can then begin the sale of the empty shell of your former home.
3). Employ a 3rd Party to facilitate the process
There are many organisations who facilitate the process of moving out and selling the family home. Their services usually cover everything from helping you find an estate agent for the sale, decluttering your home, packing your belongings, making sure moving day runs smoothly for you (food, transport, any medical requirements etc) as well as setting up your new home so that you can arrive and not have to cook food or make beds.
A buyers agent can also help ease the angst of moving out of the family home by helping you find your ideal new property. Contact Amanda On My Side for more information.