A home is one of the biggest investments in most people's lives, both financially and emotionally. Here, Wall Street Journal reporter Matthew Kassel details how sometimes the emotional attachments to looking for the perfect home outweigh a few other primary factors and sway buyers one way or another.
Home buyers usually have the 'perfect house' already dreamed up, whether it's a big yard, extra space, or a long driveway. However, they tend to ignore the bigger picture about what makes them happier overall, such as a short commute. Some buyers will give up the short commute that allows them to spend more time with their family for a home feature they think will make them happier.
Kassel also finds people often overlook big expenses, like decorating the house. When buyers walk in, they image this amazing home, but often the home never matches what they first imagined because they put too much money in the house to be able to furnish it.
The last problem is the choice to buy at all. Sometimes buyers are so focused on achieving the American Dream with the white picket fence, that they don't consider the best financial decision is to rent versus buy at that moment in time.