The Psychology of Buying and Selling a House
The Wall Street Journal recently published an article breaking down the major factors weighing in on a home-buying decision. It describes how home buyers and home sellers often let emotions blind them from critical differentiators that should influence which house they buy and the price they pay. For instance, some buyers focus on the size, features, and amenities of a house more than the location. Would living in a big house far away from your friends or your workplace make you happier? The article cites a study done on college students relating to housing. Students initially stated that things such as location, size of room, and facilities mattered the most toward being happy with housing. After resurveying the students after they lived in dorms for several months, their answers changed. They then were more focused on social factors, such as roommates and proximity to friends. You can read the full Wall Street Journal article by clicking the button below, and be sure to visit previous blog posts for more real estate news.
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