Although we have always known that a person’s behaviour stems from his traits, it is now also true that the real estate decisions you make are due to the personality traits you possess. The kind of decision one makes regarding real estate can help determine his personality type. If you are a highly efficient and organising oriented person who focuses on the detailing and micro aspects, you are a perfect candidate for a fixed rate mortgage plan.
The Divisions and a Behavioral Pattern
In a study, the candidates were asked to categorize themselves and rate their level of openness, precision, extroversion, agreeability and their neuroticism. They were then asked to note down all their real estate related preferences such as type and duration of loan preferred, whether they wished to rent the property or buy it as well as whether or not they though real estate was a preferred market to invest in. It was found that the people from similar groups gave the exact same answers. Even similar groups of gender, age and such diversity were able to answer in a similar fashion.
Whether or not you are looking to purchase a commercial property in Lucknow, some of the personality traits that influence the decision are-
Such people showed a great preference to fixed rate mortgages and loans. In their fear of taking a large uncalculated step or something that does not have proof, they would rather postpone the sensation of gratification.
Seeking low loan to value rates, such groups wished to lower the rate payable.
The preference scale showed a steep inclination towards home ownership rather than rented properties. This is mainly because they are unwilling to take a large amount of risk.
• Agreeable and Extroverts
Players in the field of real estate, this group did not pick stocks over the realty market.
The Final Verdict
However, these correlations and findings aren’t confined to just the groups we come from. The lifestyle and other factors we live in often affect our decisions and behaviour too. It is impossible for top builders in Uttar Pradesh to simply use these studies and findings and apply them in terms of sales. These guiding parameters are simply a way to understand the basic situation and not impact the market as such. The way a person consciously chooses to live has graver consequences than our inbuilt processing capabilities.