Selling your home that you have built is never an easy decision to make. During this time we are all going through right now with Covid 19 it could be even harder. But I always want to provide my clients with information they need to make this be the right choice for them. Selling your home you built in the North Metro Denver Area can be a little different than selling a home you simply bought for a variety of reasons.
I have found that it can be more difficult for sellers to sell their home because they invest so much time and energy in it. You might have spent years on the vision, design, construction, and decoration of this home. You probably have a lot of memories of picking out the lot or plot of land and talking to an architect. This home is truly uniquely yours and that makes it special!
Selling a Home You Built Can Be Emotional
You are selling emotions and memories at the same time and that can make the already stressful process of selling a home, even more difficult. There tend to be more emotions in play and some sellers have a hard time parting with their home. I have even had sellers say that selling a home in the North Metro Denver Area they built was like saying goodbye to a child! This also means that you may be more emotional regarding the perceived market value of your home. It is common that you have a higher impression of the value of your home because you remember every detail, dollar and minute spent on it.
Try to remain objective and keep your feelings out of negotiations. A good real estate agent will be able to show you the numbers and data they used to calculate your home’s market value. Remember that the market and buyers don’t care what you believe or put into the home. It only sees what other options those same dollars can buy you!
Potential Downsides To Selling Your Unique Home You Built
When you first started building your home you might not have thought too much about selling it down the line. But when buyers tell me they want to build a home, I do recommend they keep potential future buyers in mind. The unique features you put in your home, or the expensive choices you made for materials might not actually be the best decisions later. When you start building your home, a lot of people select the most expensive items and materials because that is what they want. However, these things rarely hold their value and so when it’s time to sell you end up losing money.
A unique layout or setup that works well for you and your family might scare away buyers later down the line. Trends, taste and the market change over time and buyers might not appreciate certain upgrades. It can come as a shock when selling a North Metro Denver home you built that the market does place the same value on your custom home as you do… The beauty of building your own home is that it is CUSTOM, but do keep future potential buyers in mind when making certain choices. Discuss with your real estate agent and perhaps they recommend updating or simplifying certain aspects to make your home more appealing to buyers.
How Can I Help?
I am here for my clients in any way I can help during this difficult time. I want to provide my clients with interesting and up-to-date information so they can make informed decisions. If I can assist you in any way when it comes to selling a home you have built. Please reach out to me and we can go over any questions you may have. If you think that my expertise and positive attitude might be of service to you don’t hesitate to reach out and contact me!
While our country, and in fact, the entire world faces this challenging situation, I am prepared and ready to continue to help you reach your real estate goals. Please contact me today if you have any questions or would like to discuss selling or purchasing a property.
Residential Home Specialist & Global Luxury Specialist
Coldwell Banker Residential Brokerage North Metro Office