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deeinohio

Logic versus love - need help

15 years ago

DH and I own a lovely weekend log home situated on a high hill with a fantastic view of the countryside. We frequently have people ask us to sell. Within the last month, we've had two couples knock on the door and ask to buy it. One of them showed a lot of interest, and traveled from out-of-state this past weekend to look at it. DH quoted a price higher than we thought we'd get and they accepted.

We are now having A LOT of tearful second thoughts. The pros are it would free up the money to pursue other dreams (travelling, a weekend lake place), and we don't really spend the time there now we did before we retired, since we now have nothing to get away from. We also sort of imagined it as a place to be with our kids and their families, and beyond the ocassional holiday, that doesn't happen. It also does have a mortgage, and with the monthly electric and cable bills, as well as the property taxes, we're spending a lot of money per month. However, we don't NEED to sell.

The cons are we love it, we put so much of ourselves into it, me decorating, and DH putting in hundreds of hours of work.

The emotions are fighting against the logic, and we're not sure how to get past that. We told the buyers we'd contact an attorney to draw up the papers within the next couple days, so we're really in a time constraint.

Have you ever sold something you loved becaue it was the best financial decision for you, and how did you move on?

I'd love help.

Dee

Comments (15)

  • 15 years ago

    Maybe the key would be to feel like you're not merely moving on, but moving "to."

    You seem to have a vague idea of other ways you could spend the resources earned from the sale of the cabin, but I think if you had a clearer picture of "what's next," & felt really good about that picture, you'd be truly excited, ready to sell & less ambivalent.

    Still, I say, only "less" ambivalent! Even with that clear picture, I suspect you'd feel loss, sadness & pain about leaving your dear little place on the hill. It's only natural to be sad about saying goodbye to a place that you enjoyed & cared about for years.

    That doesn't mean that a new chapter is not meant to unfold for you, imo. Maybe if you focus on fleshing out the next chapter a bit more, the flow of the story will make more sense for you!

    Where do you see yourself next? Where would you really feel excited about living? If you can't imagine any place that makes your heart beat faster than your current log home, maybe you should stay put.

    As far as the notion of love vs. logic, I always believe in taking action/making decisions, based on the love of something, rather than out of the fear of something, but it can be tricky to tell when love is the motivation behind something we're doing & when fear is. Only you can determine & know that for yourself.

    With some reflection & soul searching, I know you'll come up with the answers you need soon. Best wishes.

  • 15 years ago

    You don't have to sell it. So, pretend you don't have an offer. What do you want to do? You envisioned this home as a place to hang out with family. Will your kids have kids that are old enough to enjoy the cabin in 2 yrs? 5 yrs? 10 yrs? Also, some people envision a retirement full of travel, and then they travel and find it really isn't what they want. Have you traveled? If not, try it before selling the cabin. You don't have to take this offer. Tell the door knockers that you have had second thoughts and will get back in touch with them when you are sure of what your plans are.

    If however, you love the place, but just don't find it to be what you want in your life right now, then go ahead and sell. You are not in a rush. Take your time. Besides, maybe you are underselling the property!

    Good luck!

  • 15 years ago

    All emotions aside, this caught my eye:
    DH quoted a price higher than we thought we'd get and they accepted.

    If you weren't going through the motions of preparing to market it, is there a chance your DH quoted lower than you could or should be getting for it? Maybe you should research that pretty quickly (like today) and make sure?

  • 15 years ago

    No, haven't been in that position. If it made sense financially for our family, I might seriously consider selling if I were you. Given the down turn in real estate market and current economic conditions, this may be an opportunity that so many who really need to sell wish they had. That would probably be my biggest consideration.

    Do you foresee a time in the near future when you would have no alternative but to sell this property? If so, It may be smart to sell given the fact that you have a buyer willing to pay you the amount of money you're asking. The only other consideration would be - have you properly priced your property? Have you check the comps in your area?

  • 15 years ago

    I think you should pass it on to another family who could make it the centerpiece of their gatherings and memories. Then, you can start afresh with your next project. Knowing when to let go is wise.

  • 15 years ago

    Thank you for such thoughtful responses.

    Stinky, that's exactly the attitude we're trying to attain - moving on.

    geogirl, very perceptive. I said the same thing to DH this morning. We like to SAY we want to travel, but we are real homebodies and usually only go where our beloved aussies are welcome.

    work-in-progress and moonshadow, we are fairly certain this is a fair offer. We had someone want to buy it a year or so ago and had a local realtor evaluate it. Her price, with commisssion, was over $15000 less. This offer is the perfect marriage of buyer and price. They want this area because family is nearby, they love to hunt and this area is prime over 3 states, and they want small and the place is only 1150 square feet with one bath. We may never get such a good offer again.

    You all don't know how much you're helping me toward some type of (necessary) decision.

    And, for all those who I KNOW will understand, as we were listing fullout-of-pocket costs of the build, DH just found out about the price of the Currey and Co chandelier in the dining area , the Danze faucets, the 5 lanterns on the outside of the house, and the Emtek hardware throughout the house.(he never asked before!)
    Dee

  • 15 years ago

    ideefix: I was posting as you did. Your comment literally brought tears to my eyes, and you yourself are very wise.
    Dee

  • 15 years ago

    dee, you say you don't use the place as much anymore, and it isn't the family gathering place you'd hoped it would be. You also mention a dream of a weekend lake house. Those are two salient points to focus on. Maybe if you start looking into lake houses, thinking they might be good too for occasional family gatherings & how you could fix a lake house up nicely, it might stoke up your enthusiasm for the sale.

    Seems to me what's tying you down to your old home is the memory of work you put into it. You can put just as much love into a new place, especially if it's a lake location that might offer more fun for your kids & grandkids.

  • 15 years ago

    Dee I did the same thing with a great beach house in South Carolina. We could afford to keep it and used it about 7-8 weeks each year. I loved it! When my father passed away we assumed responsibility for my mother and found we could only get there a few weeks each year. We determined what it cost us yearly to have and decided we could put that money into either lovely rental homes for a week or two (such as the outer banks of North Carolina) AND a couple of luxury vacations too. While I do think about how much I loved it 8 years later (and have twinges of missing it), I have also been able to see much of Europe, many locations in the U.S., travel with my grandson, and buy a boat which we have spent two weeks on every summer traveling with friends along the eastern seacoast. I miss my house, but have had wonderful experiences! HTH I feel for you-it is a truly hard call.

  • 15 years ago

    My thoughts are along the same lines as Josuasamah...

    When we were contemplating buying a boat about 10 years ago, I suggested to Hubby that we simply pretend that we already owned our dream boat, and that we go down to the lake and rent it as often as we liked -- NO dithering about the high cost of renting. Then if, at the end of a year, we found we were spending more to rent than it would cost to own, we'd go ahead and buy, knowing we were making a great decision. You'all can imagine how that turned out, right? (no boat)

    So why not imagine the money you would clear from the sale, split it over the next 10-15 years, and imagine what you could do for vacation rentals? Lake house for a month? What about something in Florida or the Texas coast for the winter? Ski chalet? Or maybe a little villa in Italy in the spring?...

  • 15 years ago

    Dee - As long as you are getting this 'great' price for it I'd seriously consider selling. Although your home sounds lovely and is in a great location it is small which does limit the number of potential buyers.

    15 years ago we bought over 100 acres in the mountains and built a beautiful vacation home - 4 BR, 4 baths. We bought when real estate prices were low and we've seen substantial appreciation even in this market. We always thought we'd be able to enjoy this with our children but just as you discovered that hasn't happened as often as we thought. Our adult kids love coming here but they have their own lives and jobs and which keep them busy.

    When my DH retires in 9 months we'll spend a lot more time here. We don't have a mortgage on either home and with his retirement so near we're not ready to put it on the market but if someone knocked on the door with the right price we would sell and look for another vacation site on water closer to the kids.

    I honestly believe that logic should trump love in financial matters. And as you and others have pointed it - this would free you to find a new love.

  • 15 years ago

    I understand that this home has a lot of dreams wrapped up in it -- the family gathering place, kids running around. Altho you can't put a price on those dreams, they won't end if and when you close the door on that place. Who knows how those dreams will grow?

    (Also, you are clearly an expert shopper! Maybe a little part of you would like the "thrill of the chase" again for a new little abode!)

    This would be a good time to put together a photo book of the house. The house and the memories will always be with you! And is there any chance that there will be a big family gathering for one of the upcoming holidays?

  • 15 years ago

    Thanks again to everyone. We did sign the contract and the buyers are really great. They're planning cows and a horse! I'm still teary, but you all have helped me see something different for our future. We applied for our visas, since we can't even go to Canada any longer without one, and maybe we'll get further, like my dream trip, Africa!

    awm03 - You nailed it. It's the work we put into keeping us tied to it.

    (Disclaimer: We're still both privately hoping the sale falls through).

    Thanks again.
    Dee

  • 15 years ago

    It's easy to see why you feel the way you do. But I have a sneaky suspicion that after you sell - and it might take months - you'll look back and realize that you made the right decision. Good luck.

  • 15 years ago

    I tend to think opportunities present themselves when we are in need of, or ready for, growth. I've mourned places that I loved and that I poured a lot of effort into making it as perfect as I could for our needs at the time, and still hold a bit of longing for what those places and junctures represent, but I'm always grateful for the next phase. You'll have a new dream to focus on soon.