As with anything, there is always emotions and feelings involved in buying and selling property. Whether you are selling your family home where you have lived for many years or an investment property, you may still feel sad to let it go and question whether you are making the right decision.
Potential buyers i.e strangers will come around and look through all your cupboards and criticise a place that could have quite a lot of sentimental value to you. When you decide to sell, you have to put on your businessman (or woman) hat and look at it from a financial perspective. Remember the reasons why you are selling and leave your emotions at the door. It is a good idea to leave the open homes to the real estate agent (if you are using one) and not be present when buyers are looking through.
Buyers also feel emotional too. They may be worried about taking on more debt, and they want the property to be perfect so they may be picky about everything. But buyers, you must also leave your emotions behind when looking for a new property. Don’t get caught up in the moment and spend more money than you can afford because you find your dream home.
Investing is a business transaction
Buying an investment property is a bit different from buying a place for you to live in. You can focus more on the business side of things and see it purely as a financial transaction. You can look at the property with an objective mind and see if it really is worth what you are paying for it.
How do you feel when buying or selling a home? Do you feel differently if you are buying your own home or buying for investment?