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When the emotions kick in…

As much as buying or selling any property is a financial and lifestyle decision, there will inevitably be times when the emotions kick in.

And managing that emotion can be a challenge when something as important as a major financial investment is at stake.

So, here’s what to consider with real estate when the emotions kick in…

Emotions when selling

Regardless of your reason for selling, deciding to relinquish a property and move on has the potential to feel momentous.

For some people, it might mark the end of a significant chapter, for others it could signal a step into the unknown.

The reality is, selling a property can dredge up a whole host of emotions, and that’s where a trusted agent comes into their own.

A great real estate agent will understand what you’re feeling, and why, yet will guide you with the best advice possible based on the current market conditions.

They’ll know what you’re seeking to achieve and help you see past the emotions to take the next important step on your real estate journey.

In the meantime, it helps to be crystal clear on your reasons for selling, including what exactly the sale will help you achieve.

Reasons might include buying another property, making a move interstate, finalising a chapter of your life, downsizing, upsizing etc.

When you know the ‘why’ behind the sale, it helps you make decisions regarding that transaction in a less emotive way.

Emotions when buying

We’ve all been there, standing on the threshold of a property we are absolutely in love with, that may or may not suit our budget or our current needs.

That said, it’s important to retain a logical perspective when it comes to purchasing a property.

And that’s where the perspective of an outsider or trusted advisor is imperative.

When it comes to buying, ensure you have a trusted team around you, including:

  • People you can bounce ideas off, such as a partner, family member or good friend
  • Professionals, such as pest and building inspectors, conveyancers, architect etc
  • Financial professionals, such as a lender, broker, or financial advisor

These people help ensure the property you fall for actually meets your current lifestyle and financial needs.

It’s also important to be clear from the outset exactly what you want that property to achieve and your budget.

For example, an investment property is very different to a forever home, a renovator’s delight with capital gain potential is different to downsizing, and a first home is often very different to your ultimate family residence.

Meanwhile, budget is critical. And we’re not just talking about the maximum you can afford. 

It also pays to consider how you would service the loan on any property if something changes, such as interest rates rising or your employment circumstance altering.

Head over heart

Make no mistake, buying or selling property is indeed emotional, but it’s important to have a team in your corner who can help keep your ‘heart’ in check, so you can listen to your ‘head’.

If you’re considering selling your property, why not chat with one of our friendly agents to understand how we can help?

Or feel free to enter your address below to get your instant property estimate.
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