Archive for July, 2011

July 5, 2011

Quantifying the Value of a Priceless View

Of all the things that can be bought and sold, is there anything that’s more important for building your life around it, than a home? There’s nothing I can think of right now, and that’s probably why selling it is so stressful. It’s hard to see your home as an empty shell, stripped of all your stuff and even harder to have its value pinned down to money. When we have to put a price tag on anything that’s dear to us, it just feels like a misfit translation of values. Market value of your home cannot reflect all the special moments shared in it, a part of your life “left” in it, that special value that makes is a home for you.

A home by K_M Architektur at Lake Walensee, Switzerland; 

photo by JoeInSouthernCA

Those values can be completely unrelated, too. You can spend a very happy period of your life in a home with a lower market value, and live very poorly in an expensive home. It seems that  when we’re selling a home, we’re very aware the fact that we’re selling bare walls and not our experience of a home, but when we’re buying a new one, we are trying to capture those feelings of a special place and homey feeling nonetheless (and real estate agents know it!). We look out for cues that reveal a potential for happiness, and, like with all purchases, we’re willing to let go of completely objective, logical reasoning and also act emotionally, impulsively, “fall in love” with some features. While quantitative variables like square footage and number of bedrooms might be the most important for making a reasonable decision about home buying, the most intriguing material for falling in love is the view.

read more »

Advertisements