Anyone could figure that your personality affects your decision-making. Type A's will be likely to meticulously plan, while the more whimsical of us will be likely to make choices on the fly. However, did you know your personality makes your home buying decisions predictable?
New information from a September 2014 study titled Real Estate and Personality can help real estate professionals figure out their clients easier, and help potential homebuyers anticipate what choices might be best for them.
The study employed micro-level data on individual scores on the Big Five personality test, as well as personal financial real estate preferences, to evaluate the role of personality in individual real estate market-related preferences.
Some findings from the study: neurotic folks prefer owning over renting, conscientious people preferred investing in real estate over stocks, and the detail-oriented are good candidates for a fixed-rate mortgage.
The findings will be published in an upcoming edition of the Journal of Behavioral and Experimental Economics.
Learn more about the study in this Wall Street Journal article.
Slightly neurotic and the queen of micro-management, RISMedia Associate Editor Zoe Eisenberg is (predictably) a homeowner with a fixed-rate mortgage.