Syndication News Column:
The Real Estate Light
Emotion Versus Logic

An aerial view of Rock Springs, Wyoming.
In the foreground is 326 Liberty Street in Rock Springs.
(This photo was provided courtesy of Mr. Mark Baker with Above Realty.)

This is the first of a series of news columns that will look at real estate issues in the United States. What you need to know before you buy a house. What information you could use prior to renting an apartment. How you can maintain and enhance your existing housing.

Before we get into details on specifics, there are some overall aspects of housing that you may want to consider. One of the most commonly used statements about real estate is that it is based on three things: location, location, and location.

But that concept – that location is key to your decision where to live – is only partly correct. Money, of course, comes into play.

But a more likely aspect is based on your balance between logic and emotion.

Logically, you can choose a location that makes sense to your needs. So, for example, if you are looking for a short commute to work, you’ll have specific neighborhoods to consider for your new home. If you prefer to live some distance from your workplace – maybe because you believe your boss might be less likely to give you a call to come to work on your off-days – then you’ll likely have very different communities to consider.

That same logic applies to whatever aspects of life you deem most important. A few examples: Is your new home in the attendance zone where you’d like you children to get an education. If you like to play sports, are there nearby athletic fields that would be available for you to use with your buddies.

But while logic might work for some, others – many others – make housing decisions based on emotion.

Some people tend to rationalize their emotional decisions as decisions based on logic, but there are profound differences.

When people in the United States watch some of the home buying and home renovation television shows on cable, they might notice that people who live together as couples may have different views when they visit potential homes to purchase.

You may see the differences between logic and emotion as the individual members of a couple react to what they see at each home. One member of a couple might immediately dismiss a potential house based on the carpeting or the flooring. Perhaps the color of paint in the living room is not to their taste. Maybe the kitchen cabinets or bathroom facilities are dated. The backyard might have some divots.

At a different property, that same person might fall in love with architectural features of a house.

The other member of the couple might be looking at the furnace or the hot water heater. Perhaps they ask questions about the age of the roof. They might notice cracks in the wall and the ceiling.

For the first person, items that appear to be superficial are critical.

For the second person, those items can all be resolved relatively easily. New carpeting or new flooring. A different shade of paint. Updated appliances. Better lawn care.

The second person is more concerned about things that are structural. Things that might be difficult or expensive to solve.

People want to love where they live. It’s true whether one lives in a modest modular home or in a single-family house.

We’ll be exploring ways you can select your housing – whether you buy or rent a new home or if you decide to enhance your current home – using a combination of logic mixed with emotion. You’ll be able to use this information and some of the techniques detailed as you seek out housing opportunities.

© 2020 Richard McDonough