The surprising way fear pushes — and pulls — you during a home purchase
You want to buy a home because … Because… Well, you fill in the blank. Why do you want to buy a home? And if you’re pulled toward a particular home and feel like you just.need.to.sign, ask yourself the same question: Why?
Any marketer will tell you there’s a lot of psychology that goes into every purchase. Home purchases, as big and life changing as they may be, are no different. What many home buyers find surprising, however, is just how big of an emotional driver feelings of fear can be.
What Are You Afraid Of?
There’s a beautiful dirah for sale. The location is perfect. The neighbors are nice. The floorplan is just what you’re looking for. It’s a bit pricey, but … you feel like it’s urgent to close the deal. Your subconscious starts playing games with you… If you don’t sign today, you will lose out! Maybe someone else will snag it. The seller could change his mind! What if they raise the price even higher?
Or maybe you’ve seen a place that seems like a good fit, but you want to shop around and do more research. Then your agent warns you that prices are constantly rising in this location, that another buyer is seriously interested in the same apartment, that the seller is already discussing a higher asking price. Your agent’s worrisome words echoing in your ears, concern worms its way into your heart, settling down in your stomach. What if this is your only chance? What if you miss out? What if…?
Perhaps you’ve heard about a few people around town who’ve recently bought homes in Yerushalayim. After Maariv, you meet an old friend who mentions they’re looking into property in Israel. Standing in line at the grocery store on Erev Shabbos, an acquaintance starts discussing his plans to get a retirement apartment … in Israel. It seems like everyone’s buying in Israel these days! And there it is, that familiar old voice, What about you, you, you?
Fear as a Psychological Driver
Fear is a forceful psychological factor in pushing purchases — even those as large and long-term as a home. Loath as we are to admit it, emotion plays an even bigger role in our buying decisions than logic. What that means is most purchasers make decisions based on feelings … and then attempt to justify them with logic after the fact.
Whether the fear emanates from within you, is implanted in you by a strongly sales-minded (and slightly manipulative) real estate agent, or emerges from heavy social pressure, it’s there. FOMO (fear of missing out) is real. This fear can drive us to make rash, impulsive decisions without taking the time to do real research, to get educated, or to seek objective third-party opinions.
Fear can drive a buyer to purchase a home they can’t really afford, or in a location they don’t love, or with conditions that aren’t ideal. Fear can lead to genuine buyer’s remorse. Being aware of this factor — and being aware of yourself and your emotional state — is crucial to keeping your head, heart, and housekeys beyond fear’s grasp.
The Other Side of Fear
Although fear commonly pushes us to make hasty and somewhat reckless choices, it can also do the opposite by paralyzing us. If you’re not in the FOMO club — or even if you are — you may still recognize fear’s equally unfriendly twin: anxiety.
Maybe, if you buy this home, something better will come up next week, next month, next year. Maybe, if you just wait a bit, you can get a better price. Maybe this place isn’t as good as it seems and you’re missing something huge and this whole purchase will be an absolute disaster? Maybe… Maybe … Maybe …
When excessive caution becomes unjustified panic, you’re left paralyzed. Instead of being ready to choose, sign, and move, such purchasers find themselves stuck, chronically hesitating … and always losing out. Just as much as FOMO is real, so is analysis paralysis. And it can keep you from ever acting and living out your dreams.
Somewhere in Between
Fear not, my friend. Somewhere between that risk-taking FOMO place and that immobilizing anxiety lies the sweet spot. When you really learn about your purchase options, including locations, pricing, mortgages, real value, and more, you can make choices from a position of power, knowing you’re reaching a wise and educated decision.
Increasing your knowledge and mining for information can help you shop smarter when it comes to investing in a home. And you can enlist the help of the professionals at The Getter Group to do that research for you and present you with the best choices around. We’ll give you the feedback and objective advice you need to make the most educated decision possible.
When you do find the right home, you’ll be ready to sign with confidence, knowing you’re making the right (and logical) choice. And what could be better than having real self-assurance in your decisions? (Other than moving into your dream home in Israel, of course!)
Don’t let fear be a factor. Let us stand by your side.
Mr. Shia Getter is an authority in real estate and buyer protection in Israel. He founded The Getter Group to help homebuyers secure their interests and avoid pitfalls when buying in Israel. Enlist the experts. Contact The Getter Group today at 718-473-3950 or via e-mail at firstname.lastname@example.org.