Thinking About Overpricing Your Home? You’re Playing Russian Roulette

As a homeowner, there’s no doubt that you’ve lovingly maintained the home – both for yourself and as you considered resale value. And now that you’re about to actually sell the home, it’s understandable that you want to be compensated for your efforts. Your home also holds a lot of memories– and if you’re not careful, you’ll end up projecting your sentimental value into the home’s selling price. That’s why you need to check your feelings at the door when you put your home on the market.

According to broker Kimberly Jay at Compass in New York, NY, positive memories and sentimental value may lead to sellers overpricing their homes. “Buyers do not have the history or connection you do, and likely do not feel the same way about your home.” She says you can take your memories with you, but warns against pricing your experiences into the listing price.