What are rational and emational behaviors a consumer has when purchasing a new home?
Consumers exhibit both rational and emotion behavior when buying a house. It is best if they are rational, but this is not always possible.
Rationally, customers do things like targeting homes with a certain amount of square feet. They look for homes with a given number of bedrooms and bathrooms. They try to get those things within a given price range. These are rational calculations.
However, buyers can also lose their rationality. They can “fall in love” with a given home. They can be overwhelmed by the aesthetics or the location or some other aspect of the house and they lose sight of the rational calculations that they had made. This can often lead to them making decisions that are not all that good for them in the long term.