A Sympathetic Approach to a Very Emotional Problem

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Economists have been preaching for years about how buying and selling a home based on emotions is a ridiculous idea; a sure-fire way to lose money or make a bad decision. Whatever the reasons we buy our homes, we become emotionally attached to them as soon as we bed down for that first night (sleeping on the floor because the bed doesn’t arrive until the next day) Here are a few points to consider about the link between financial and emotional investment.

•    Just because you have a mortgage in arrears and need a quick house sale to sort out financial woes NOW, don’t lose hope. Markets rise and fall. It’s better to face sensible facts despite the emotional cost.

•    Are you anchored to your home by a strangling mortgage and strong emotional ties? Many of our customers are delightful folks who’ve put off selling their home in the hope the burden might ease. It’s a tough decision, but often a necessary one. It can be hard to see a life beyond the walls of your beloved home.

•    Although mortgage lending is less carefree in the current financial climate, the temptation to go over budget is often more pronounced when we just fall in love with a property. Who cares about the flickering electrics when you LOVE the house? This is when buyers are at their most vulnerable and need to engage the economist side of their brain to make sensible financial decisions with minimal future risk.

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