A rational approach to property buying may seem like an obvious way to tackle one of the largest financial decisions many would make in their lives; however, pre-existing beliefs influence consumer psychology and decision-making processes. These pre-existing beliefs often come up in the form of superstitions, like knocking on wood and avoiding black cats. Many real-estate agents report that buyers from some Asian cultures won’t consider investing in a property if it is located on an unlucky street number.
However, superstitious beliefs like this do not reflect the property’s value and potential performance and should therefore not be the main factor when choosing a property to buy. Strategically speaking, homes with certain numbers could in fact benefit a buyer, as the competition might be slightly lower. Instead, a property’s value is typically impacted by location, land size, building improvements, orientation and aspect.
For more on the science to your address, head to Switzer.com.au for the full article.