Brighter Buying

OMG FOMO has turned to FOBO!

by Kate Watt, Marketing Manager 11 April 2019

We like to think human beings are rational but as any undergrad psychology student will tell you, we make decisions on emotion not just logic.

And that’s not a bad thing, especially when it comes to choosing a property that suits your lifestyle.
All things being equal, finding a home can be a fun and exciting experience.
But sometimes we get spooked by the herd and that’s when FOMO, and now FOBO, can steer you in the wrong direction.
Fear of missing out (FOMO) is kind of like the modern day version of ‘keeping up with the Joneses’. You’ll never be satisfied because you’ll always be rushing to get on board the next craze. Apply this to property, which is best treated as a thoughtful, long term commitment, and you could end up making costly mistakes.
But what happens if you’re too thoughtful? You probably suffer from fear of better options (FOBO), which Property Update says will lead you to analysis paralysis. The antidote of course is to be clear about your property buying criteria and when you find a property that matches, make a move.
But what if you really do fear missing out on your dream property? Or worse yet, what if you buy, then a better home next door comes up for sale?
Get some help from a local agent to ease the decision-making burden and get on with enjoying your new home because, you know what they say: YOLO.
Think a better housing option awaits you? View our current listings for sale or check our listings for rent.