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The Value of Real Estate
In light of Dad’s recent diagnoses of pancreatic cancer, and our time at Memorial Sloan Kettering for the surgery, a past blog post (Jan 26) for our brokerage clients seems particularly relevant. Perhaps you’ll find it helpful with your clients as well…
In a previous post I referenced the financial costs of waiting to buy real estate in the Lowcountry. Today, I’d like to reference the true cost of waiting to move forward with your life… relationships.
The recession of recent years managed to impact nearly every segment of the socioeconomic spectrum. No one was immune. We’ve all seen the devastating impact of financial stress on the lives of friends and family.
Recently, I had the opportunity to learn of a gentleman who lost his life savings in the Bernie Maddoff scandal. Surprisingly, he invoked the sentiments of Greek philosopher Epictetus “We cannot choose our external circumstances, but we can always choose how to respond to them.”
Daniel Gilbert, Harvard psychologist and author noted “We know that the best predictor of human happiness is human relationships - the amount of time that people spend with family and friends. We know that it’s significantly more important than money and somewhat more important than health.”
The point? Yes, the markets have stolen some of your wealth. But it is up to you to make sure that it doesn’t steal the rest of your lives. John Lennon once said “life happens while you’re busy making other plans.” Don’t let life happen to you. Take ownership of your relationships and invest in things that pay true dividends.
The true value of residential real estate doesn’t have anything to do with monetary consideration. Its value lies in its capacity to foster relationships and facilitate memories.
Posted on 05/17 at 11:33 AM
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