Emotional Attachment Keeping Boomers, Gen X at Home?

Of those aged 55 and older, 66% of respondents said they’re emotionally attached to their homes in a survey by Opendoor.

For older homeowners, sentimentality may play a role in their decision not to sell or downsize. Selling a home is often an emotionally charged process, but for those who’ve lived in the same home for many years, it can be a harder decision to make.

In fact, 56% of 55+ respondents said they have lived in their homes for 15 or more years.

Additionally, 65% said selling a home was among the most stressful of life milestones overall, tied with starting a new job (65%) and followed by buying a home (62%) and planning a wedding (48%).

The survey also found that for 33% of 55+ sellers, closing the deal meant saying goodbye to a home with many memories, and 22% cited emotional ties among the top factors that influenced their selling decisions.

However, despite having to let go of a place that means a lot, 36% said that handing over the keys to a new owner is among the most enjoyable steps of home selling.