The “Not My House” Sentiment
A recent post from one of my favorite blogs. The “Not My House – Sentiment”…
A recent study conducted by Zillow finds what they call a “Not My House! Sentiment,” where despite the evidence that 77% of U.S. homes actually declined in value in the past year, 62% of homeowners believe their own home’s value has increased or stayed the same.
How can this be?
I think that part of the story has to do with the changes and tinkering we do to your homes coupled with our inability to understand that the changes we have made to fit our own individual taste might be ones that others don’t see or don’t value.
When someone moves to a new house they often make changes to their homes, breaking a wall, changing the tile, fixing a bathroom, adding a porch etc. As a consequence of this process the house is now tailored to its particular owner with its unique individual taste. Now their house is great for that person.