A recent study called the Psychology of House Hunting shows that 80% of first time homebuyers tend to know if a house is right for them when they take their first steps into the home. On average, first time homebuyers view 10 homes before making the decision to buy. An additional 39% confess they feel pressured into buying a home they may not feel is perfect for them. First time homebuyers report having many emotions throughout the transaction including excitement, anxiety, and optimism. Mortgage expert with BMO, Laura Parsons said, “It’s important to take a practical approach when house hunting and have a clear idea of where you stand financially to ensure you make a responsible home buying decision.” The study also stated that 44% of buyers say the reason they bought a home was because they felt it was a smart investment. More here
