How depraved we know of ourselves today will lead us know how much we need the grace of God and to turn to Him for forgiveness. We believers, do not only need God. In fact, we need God intensely, and we need to repent before God radically, so that we hate sin so much that we intensely need God so much to fight the sin that always clings onto us.
As children of God, we repent because God's wrath is there, judgement is coming and the consequences are real. But as children of God, we repent also because God's love and grace are ready to receive us.
True repentance brings you to treasure your relationship with God more than anything else (eg pride, shame, self-centeredness, worldly fame...)