In Real Estate price is not everything. It is important, but not everything.
When it comes to purchasing a house, other factors must be taken into consideration to understand the rationality - of the Buyer's decision-making process. Buyers are typically a nervous bunch, and understandably so. It is not easy to consider an investment that runs into the thousands of dollars, and any time you commit yourself to sixty months of $2,000 or so monthly payments your palms tend to perspire. Such factors as heritage, education level and risk absorption and management play a pivotal role as well. More exotic relationships between money and nominal wealth in the minds of people - whether such relationships are clearly understood or merely hearsay - are even more important.
There is something impliedly strange in making decisions and humans, for a reason or another, tend to shy away from them. They like to stay in their comfort zones of blissful indecision. ''Nothing ventured, nothing lost" is the way many people look at making any kind of move that might be to their benefit. And the purchase of a home or other real estate is one of the most beneficial decisions that can be made in our society, even at the wrong price. Making decisions is not easy, so people more often than not decide not to decide. This can be very frustrating, especially in hind-site. There is such a thing as Buyer's remorse in reverse: how many times have you heard comments like: “why didn't I buy it myself” or “why didn't I think of it” from prospective purchasers referring to properties that have already sold - and which they themselves could have bought instead of someone else. I call it Buyer's “alter ego", which is a reflection proximately caused by the misinterpretation, whether effective or subjective, of what economists refer to as 'the money illusion' . In Economics the term "money illusion" refers to a tendency to think in terms of nominal rather than real monetary values. Which tendency can be in part explained by the fact that the average consumer thinks and does things by reflection. A real estate purchaser will very well decide to buy a loft as opposed to an apartment not necessarily because he likes lofts more or because he thinks they are a better investment, but because his very close friend has just bought one or because his very dear girlfriend has stated that she likes them more, or merely because it is trendy to purchase lofts. And the fact that lofts are typically more expensive or that, ultimately, this particular consumer will end up living in a refurbished warehouse have little weight on his rationalization of the purchase. Please be aware of your motives, and simply be honest with yourself and your needs, and the needs of your family in purchasing a home.
We want you to be fully happy with the home that you purchase for you and your family.
If you can see it, you can dream it. If you can dream it, you CAN have it!
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