Why People Buy Houses And What it Can Teach You About Finding Your Dream House - The Coto Group

Why People Buy Houses And What it Can Teach You About Finding Your Dream House

When people buy a property, a house, or an apartment, they do it for a myriad of reasons. Half of them are logical or rational and the rest is emotional (the latter are much more powerful than we might think). Most people who want to sell their property ignore these reasons and end up finding it tough to approach their clients. The same goes for those who want to buy a property and do not understand the reasons why they want to buy in the first place.

So, whether you want to sell a property or buy one, these reasons will help you make better decisions and find what you want:

Rational Reasons:

– Price: Most buyers come with a price on their minds. Perhaps this price is just their budget, or a price they have arbitrarily picked beforehand. Learn to listen to them or ask yourself whether you are thinking on a budget or just being too rigid.

– Location or Zone: Choosing where you want to live is a key element. We want to know how beautiful it is, how close it is to schools, universities, or shopping centres. Also, this directly affects the price.

– Construction: This one isn’t only about looks. The buyer wants a reliable construction, one that requires less maintenance and that gives them a promise of safety.

– Property surface: The size of the property depends on the way of life each one has. Some people need more space than others, and it’s not strictly related to family size.

Emotional Reasons:

– Security: Family and safety first. Nobody wants a house where they don’t feel safe. This one is completely emotional and subjective, as someone might feel out of place even in the safest neighbourhood.

– Social Recognition: Having a beautiful property at a nice location can be a synonym for success. Although we know it’s not necessarily true, it can make more than one feel fulfilled and happy with their life choices.

– Proximity: This is how close we are to those things we value the most. This one was studied by Psychologist Daniel Kahneman who was awarded a Nobel in Economic Sciences. On his studies, he noted that several workers preferred a job with less pay but closer to home since this allowed them to not be apart from their families, friends and daily routines.

Understanding the reasons behind why we buy and sell can help us close deals and enjoy the house of our dreams. If you need the help of a real estate agent contact us at The Coto Group (305.422.9286 / 305.803.3059) or follow our social media channels @TheCotoGroup to know more about Real Estate all over Key Biscayne and Brickell. With over three decades of real estate experience, The Coto Group surely knows best.