Buying a new home is likely to be one of the most emotional purchases you’ll ever make. But with so much on the line, it’s essential that buyers keep a cool head. Emotion and logic can play equally important parts in guiding your purchase, but striking the right balance between the two is an art. Knowing the pros and cons of each approach can help.
HEAD VS HEART – Logic
The logical homebuyer isn’t easily susceptible to impulse. Having carefully reviewed all the facts of the purchase, they’re less likely to run into unwelcome surprises after the fact.
Taking a logical approach also lets the homebuyer mitigate risk by keeping the big picture, including things like their bottom line and the home’s potential resale value, in mind.
The logical homebuyer’s preoccupation with the numbers and facts may land them in a home which, while suited to their needs, may not be suited to their tastes. And a homebuyer who doesn’t love their home may well find themselves back on the market before they know it.
No one wants to end up in a house that’s worth less than what they paid for it. But being too focused on a home’s list price can distract buyers from the hidden value that may lie beneath the more obvious price point. For example, a home with unique architectural or features or amenities, or one that’s in an exceptionally good neighborhood, can be worth more than some logically-minded buyers are able to recognize.
HEAD VS HEART – Emotion
When you own a home, that home becomes a major fixture in many of the memories you and your family will build while living there. Investing in a home you love and have an emotional attachment to, rather than just a home that makes sense for you, ensures that your future memories of that home will be filled with love as well.
Emotional homebuyers tend to focus on the home’s layout over the data points. By engaging in the emotional practice of imagining your everyday life in the home and how its layout will fit you and your family, you’re more likely to end up in a home that will satisfy your future needs.
Acting quickly on a home purchase has its place, but emotional buyers may be too eager to make a move. Panicking over competing offers can result in buyers offering too much for a home, or making an offer before they’ve considered the logistics.
Investing a lot of emotion in a home purchase means investing a lot of energy. In a process that already takes so much of your time and attention, this extra investment can be more strain than buyers can handle, possibly resulting in a hasty, unwise purchase out of sheer exhaustion.
At the Authentic Real Estate Team, we understand both the emotional and logical sides of the buying process. Our experienced and understanding agents can help you balance head vs heart, making sure both are working synchronously toward getting you the best home for your needs and sensibilities.