Global Real Estate Highlights

A few years back a lot of homeowners got obsessed with how much the value of their homes appreciated. The equity in their homes translates to “savings in paper” which they can use to finance another property, a holiday or their retirement. Even if some homeowners did nothing with that equity, it still gave them a feeling of financial security that they are actually richer than when they first bought their property.

However in recent times, that sinking good feeling had turned into financial insecurity and even bankruptcy to some. A lot of people are complaining how they lost a big chunk of the value of their home.

Thus, we sometimes wonder “What is really the true value of our home?” Is it the price we bought it for? Is it the valuation a few years back when prices were high or does today’s prices reflect the real value of our homes?

In understanding the true value of our home, let me share to you a quote from Oprah Winfrey from one of the articles in “The Oprah Magazine“:

“I let money serve its purpose. But I don’t live to serve money. I think that’s why we have such a beautiful relationship.”

If we let our homes serve its primary purpose such as to provide shelter to yourself, or your family, have your own space to be just yourself, a place where you can transform to suit your needs and wants or a haven after a long day’s work, then regardless of the current valuation you should enjoy living in it. Any equity or financial gain earned is just a bonus.

In the end, the true value of your home depends not so much on its price tag or current valuation. It depends on the amount of love, happiness, comfort and satisfaction you get from owning your home. You cannot really put a dollar value on these things.

Having said this, if you’re not planning to sell your home now, don’t stress out on your home’s current valuation. Enjoy your home, love and nurture it.

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