The Emotions of the Homebuying Decision

by Chicago Agent

The emotional response that houses elicit from homebuyers can be a make or break for some.

A new survey out from Coldwell Banker is reporting that a formidable number of homebuyers put more emphasis on the emotional appeal of a home than its technical details.

According to a Real Estate Economy Watch overview of the survey’s findings, 28 percent of women and 25 percent of men put more stock in their feelings on a property than its layout, square footage or price, and 62 percent of women and 61 percent of men reported knowing within the first visit whether or not a home is right for them.

Jessica Edwards, Coldwell Banker Real Estate consumer specialist and Realtor, said that though technical details are considered by homebuyers, there is a definite appeal in the “feel” and emotion of the property.

“When two people are looking for a home together, there are many considerations to take into account,” Edwards said. “Of course, price and layout matter, but ‘feeling at home’ is an important factor.”

Edwards also said the survey highlights the importance of “depersonalizing” the property, aka staging it in such a way that the prospective homebuyers can see themselves as the homeowners. Another Coldwell Banker survey from February found that 78 percent of the brokerage’s clients agreed to depersonalize the home for showings.

Beyond a home’s emotion, the more recent survey also covered many other interesting dimensions of homebuying, such as: 54 percent of female respondents said they take the lead when decorating their homes, but 48 percent of men aged 18 to 44 said decorating was a mutual process (that number reduced to 36 percent for the 55 and older bracket); and, 54 percent of respondents from 18 to 44 years of age said financial decisions were mutual, but 60 percent of those 45 to 54 years old and 70 percent of those 55 and older also said as much.

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