Real Estate Buyers are Liars – Or Not

Source: Advisor Perspectives — 

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When purchasing a home, too often we let our emotions guide us to an impractical choice. As with other “money scripts,” we need to carefully examine our biases before making critical decisions.

Tyler and Kirsten’s family was growing. They had one child, another was on the way, and they agreed that they might eventually want a third. Their two-bedroom house would not suit their needs much longer; it was time to look for something bigger.

Before they contacted a real estate agent, they made a list of what they wanted in a house: a newer home with a functional floor plan, no fix-up needed, four bedrooms, a two- or even three-car garage, close to schools. Their budget was $400,000. They wanted the new home to be a place they could live for decades.