Managing FOMO and FOBO when buying property

2023-11-15

Buying a property is one of the biggest decisions of your lifetime. There’s a multitude of crucial practical and financial considerations to navigate prior to purchasing a property. But what about the psychological perspective? It’s often overlooked, but it’s a critical aspect to consider when you’re on the hunt for a property. Over the years, we've found two main mental barriers that trip-up property buyers, and can lead to poor purchasing outcomes. Both were coined by venture capitali...

Buying a property is one of the biggest decisions of your lifetime. There’s a multitude of crucial practical and financial considerations to navigate prior to purchasing a property.

But what about the psychological perspective? It’s often overlooked, but it’s a critical aspect to consider when you’re on the hunt for a property.

Over the years, we've found two main mental barriers that trip-up property buyers, and can lead to poor purchasing outcomes.

Both were coined by venture capitalist, Patrick McGinnis in a paper he wrote at Harvard Business School - FOMO (the fear of missing out) and FOBO (the fear of better options).

Jarrod looks at how you can avoid FOMO and FOBO pitfalls when you’re in the market.

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