Homes are the largest investment we will make. Therefore, we are much more emotionally involved in the decision. We want this house to our home, where our family lives and where memories are created.<\/p>\n
While our emotions will influence which home we purchase, they can also hinder us from selling and buying at the right time. We become so emotionally invested in our homes that we miss clear economic signals. By ignoring the reality of the market, we are leading ourselves into poor financial situations.<\/p>\n
For example, an empty nester might not need the large home their kids grew up in. But because of their emotional attachment to the house, they will spend more money on taxes, insurance, and utility bills to continue living there. The most financially sound decision would be to purchase a smaller home that can meet their needs more efficiently.<\/p>\n
In regards to selling a home, homeowners typically believe their homes are worth more than they actually are. Homeowners will stick to a price due to their emotional expectations. This leaves the home on the market too long and wastes time.<\/p>\n
Whenever buying or selling a home, you are making sacrifices. You might have to emotionally separate from a home but receive a financial gain. Or vice versa. Some buyers will find the perfect home but it is increasingly farther away from their work, family, etc. They will be spending less time in the home because they will be commuting more. Creating a pros and cons list with every decision will allow you to equally weigh which sacrifice you are willing to make.<\/p>\n
By Anna Hellman<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" The Psychology Behind Selling and Buying Homes:<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32,34,30],"tags":[24,26,23,8,121,19],"yoast_head":"\n