Emotion VS. Economics – When to sell?

Emotion VS. Economics – When to sell?

Are you thinking about capitalizing on the real estate market but not sure if the timing is right?


A lot of homeowners can feel trapped by wondering “we don’t know if it’s the right time.”


After weighing the emotional vs. economic factors and showing them how their next move can help them realize their long term goals, we often suggest clients hold tight because it isn’t right for their family. Other times, it is the perfect situation to help them realize their dreams.


Here is the position many of our clients have been in…


“We’re outgrowing our house but aren’t sure what we can get with our next move and if it makes financial sense.”


“We want to sell now but wonder if it’s better to wait a few years until the kids have finished high school.”


“Should we keep the house for when the grandkids come to visit?”


The common thread? Everyone is wondering if they should capitalize on the equity they have built in their home.


A great way to approach this decision is by visualizing a weigh scale. On one side, you place the emotional factors. On the other side, you place the economic factors. The ones that weigh the most will give you the answer.


Here are some examples of what our clients have put on each side of the scale:


  • We’ve been here many years and aren’t sure we want to move off the street.
  • We are attached to our home and the love we have put into it over the years – our kids were born here.
  • We’re not sure we can find what we want in the school district we want.
  • My grandkids might want to visit.


  • My house is worth more than it ever has been.
  • The equity we’ve built in the house can allow us make the next step up the property ladder.
  • The opportunity to leverage our home to free up some capital would be great.
  • Simplifying sounds good and we can now afford to accomplish our dreams and goals.

If you have been in your home for 3 years or more, chances are you have built substantial equity. If you have owned a home for 10 years or more, you have likely amassed great wealth.


If your home is your principal residence, you do not need to pay tax on it when you sell. Selling to move up to a more valuable home is investing in a true tax shelter. When downsizing, it’s a great opportunity to fund retirement, travel or conquer your lifelong dreams.


If selling is a possibility for you, you’re not alone in figuring it out. We can help show you what the possibilities are, and how you can leverage the wealth in your home.
We’ll bring the coffee – all you have to do is reach out for a conversation!


Contact us today at info@therichardsgroup.ca to book your private consultation.