4 tips for a smarter home purchase

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

The fields of behavioral economics and behavioral finance are a couple of 21st-century mashups, academia-style, blending observations about the often-irrational financial decisions people make (which, writ large, become economic trends) with insights from the behavioral sciences, from anthropology to psychology, and beyond. Though these disciplines originated in the ivory tower, they have, in turn, given birth to a number of findings, insights and even mandates for every homebuyer who wants to optimize the dozens, maybe even hundreds, of decisions they'll face at every point on the path to purchasing a home, from when to buy to how much to offer to what type of mortgage to take. Here are the four most powerful behavioral econ and finance insights with real estate implications, and how you can apply them to level up your own homebuying decision-making: 1. Observing willpower basics can help you avoid overspending. In real estate, overspending can mean any of several things,...