Homes come with far more emotional weight than any other investment we make.
A home is a refuge from the world, a place to raise a family and, for some people, an investment they hope will bring them a good chunk of money down the road.
All too often, though, we don’t realize that how we feel about homes blinds us when it comes time to buy or sell. We let our emotions blind us to cold facts about the market or the realities of ownership. Or we prioritize one set of emotional needs over others that are just are strong but may not be evident at first. And ignoring them can lead us to make bad financial decisions that can affect us for decades to come.
Here’s a closer look at some psychological missteps that buyers and sellers often make as they wade into the housing market.