We like to think that we're making rational real estate decisions based on location, price and size, but other factors like smells, colors, sounds from outside, and even resemblance to past homes can all play a bigger part than we realize. A 2002 study published in the Journal of Advertising Research found that emotions can be twice as important as knowledge in consumer buying decisions.
We imagine the life we could live in the new home: for example, the new habits we'd start and the new friendly neighbors we'd meet. Some of the properties I've passed on still haunt me, like the Manhattan studio with the bedroom loft and 15 foot high ceilings. It wasn't a great location (very far from the subway) and was over my budget, but I still think of how lovely it would have been to live in that space.
Shown in the image is a home I fell for immediately because of the floor to ceiling windows and great natural light. Have you made overly emotional property decisions?
Read More: The psychology of buying a home: Why do we love one place and not another? from the National Post
(Image: Rachael Grad)