As REALTORS®, we often have clients that pose the question- “Love it or List it?” while looking for advice on loving their home with a list of desired renovations or listing it to find a new one that may already have what they’re looking for. This phrase has become an endearing term thanks to the popular HGTV show “Love it or List it,” but if you’ve ever watched an episode of the hit show, you are quick to recognize that this question really surfaces many emotions of homeownership. The practicality and sentimentality of potentially investing in your current space or making a move to find a new home that already has the setup that you’re looking for. Our teammate, Erika Mahon, invites us to explore this journey of emotions and decisions together:
Loving your home: There is nothing better than walking into a space that you have carefully cultivated over the years and instantly feeling that rush of love and warmth. Whether it’s the cozy fireplace that you have spent countless hours snuggled up with loved ones in front of, the kitchen island that seems to have a daily eruption of laughter around while the smell of your favorite home cooked meals simmer on the stove, or the backyard where your family spends their weekends barbecuing, there’s something magical about your beloved property.
Loving it doesn’t always make it logical though. We often overlook flaws or convince ourselves that we can live with the quirks because of the investment of time, energy, and sentiment that we’ve already put into the home but those questions of what if… “we had one more bedroom,” “a bigger kitchen,” or “space to build a pool into the backyard”... are always swirling in the back of our mind. Can you afford those renovations? Will this neighborhood suit your lifestyle long term? Are you prepared to live through home renovations? This is the thought process that leads us to option number two.
Listing your home: On the flip side, there often comes a time when those flaws and quirks can’t be overlooked anymore or circumstances change and your once cherished home no longer fits your life. It could be a growing family, changes of jobs, or simply the desire for new scenery. Whatever the reason, the decision to list a home always comes with a heavy load of emotion because saying goodbye to a property where endless memories were created is never easy.
There’s a sense of nostalgia that comes with packing up boxes and handing over keys combined with an excitement of a new adventure ahead in a home that may be a better fit for your current stage of life without having to live through the headaches of the design-build process of transforming your current home.
Finding the answer for you: To start, weigh the benefits & drawbacks of construction at your current home. Do you have a plan in mind? Do you have a budget set? Do you have a contractor/builder/architect that you trust with major renovations? Do you foresee this current property lasting through your longer term life goals? If the answer is “no” to any of those questions, gather some information that may help you get a realistic answer.
Next, do some research on your local real estate market where you will be listing and purchasing if you choose to “list it” & find something that may already have the needs of your adjusting lifestyle. What is the demand for homes like your current one? Are there homes available that fit all of your updated needs? Can you afford all of the expenses that come with moving?
In conclusion, the decision to love or list a home is rarely black and white. It’s a process that requires careful consideration of both practical and emotional factors. As REALTORS®, our role often goes beyond just finding the perfect match. It allows us to have conversations like these where we have the opportunity to walk alongside our clients on this journey and land in the place that works best for them, whether that’s reimagining their current space or finding a new home that better aligns with their evolving aspirations. Our goal is to always guide our clients toward a happy and fulfilling housing journey!
