Aug 29, 2011

What Makes People buy a Home?

There are a number of reasons that get an individual looking for their first home or upgrade to a larger one.  Since time is a precious thing for everyone these days, and we don’t want to waste that valuable commodity looking at properties that are not contenders. We all start off with a list of “must haves” that are used to pre determine what homes we will even consider.

One of the “must haves” is a Price.  If a home is not in a potential buyers price range it is automatically eliminated.  Second “must have” is a desirable Location, close to schools, shops, restaurants, night life.. Whatever is deemed feasible for our current lifestyle.  The third is of course is Presentation. Is the property well maintained, landscaped, move in ready?

 It is sometimes said  that people can spend more time picking out a new  dress or the latest I phone, then they do their largest investment “their home”. Why is that?  Because people buy feelings!  The home they purchase will be where they raise their kids and lovingly watch them grow. It is where the guys will watch the Super Bowl or entertain in the back yard. When you buy a house you aren't buying a space to eat and sleep. You're moving into your private "safe haven." A place you can call "home" for years.

In his fantastic book "The E Myth - Why Most Small Businesses Don't Work and What to Do about It", Michael E. Gerber provides all kinds of useful information.  However, when I read his book, there was one thing that stood out more than anything else. A small sentence buried on page 154:  "People Buy Feelings."  This is an extremely important point: People do not buy a product or service necessarily for the thing it is, but for how it makes them feel!

So how does your property measure up?  What feelings does your property  create in a home buyer?   With  97% of active home buyers surfing the “net” looking for homes on their “must have” list, does your home or the photos look  anything like what we found HERE... It is unbelievable that owners and agents alike would be okay with presenting a home in this fashion.  The only feeling these create... “Is get me outta here fast”!!

Some say that you should eliminate emotion from the home buying equation. What do you think?  I think it can  be moderated, ( this is where a guy’s logic would come in)  so that you seriously consider all the facts, and then decide which properties really do meet your needs. Emotion is one feeling that can never be ignored. So rather than ignoring it put it to good use!