Australian Property Podcast - Amy's 5 emotional traps to avoid when buying property

Apr 16 2024 49 mins 28

On this Australian Property Podcast episode, Owen Rask and Amy Lunardi break down 5 of the most emotional traps people fall into when buying their property.

Here's what you need to know:

1. Avoiding being too emotional and overpaying

Need to have some emotion when buying a property
Use this to factor into your ‘competitive buffer’ – how to figure this out (comparable sales plus x%)
Where to draw a line in the sand
With an investment less emotions (not zero)

2. The need for ‘social proof’

Do your research upfront to avoid self doubt later on

3. Allowing real estate agents/negotiations to impact your decision making

Negative experiences with agents
A negotiation not happening the way you expect it to

4. Waiting for ‘the one’ or ‘that feeling’

Doesn’t always happen this way (like online dating)
Figure out what gives you ‘that feeling’
Focus on your non-negotiables

5. Constantly having self doubt throughout the property journey

Often stems from a lack of upfront preparation, research, not knowing what you’re doing
Highly influenced by friends/family/media
Procrastination, changing strategy throughout, pulling out at last minute

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DISCLAIMER: This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser.