The notion of ‘retail therapy’ is common practice whenever we undergo such emotion, but there are instances that consumers are turning to big purchases – say a car or some ‘real estate therapy’ to solve the bigger problems in their life. If retail therapy involving smaller purchases (but mind you, sometimes the smaller items can easily break a bank, too), would result to buyer’s remorse, bigger purchase have a higher likelihood to inflict such, especially if the payment is made thru time and it is difficult to escape it, resulting to default and bigger loses. However, there are certain extreme emotions that sometimes real-estate therapy could help, i.e. relocating to a new place could result to a better change.
One example of which is when people experience a traumatic or life-changing event, such as the death of a loved one or divorce. In this situation, change can help. It can often be easier to relocate to help deal with the pain, that is why, once it is over and loved ones have come into terms that the person who passed away will not come back, it is about time to move one and usually, having a change of environment can help. Although some resort to traveling, but others will view it as temporary. Sometimes, permanent change could be the answer – a time to start anew. Meredith Fuller, an Australian psychologist, agrees that relocating after an emotional upheaval can be therapeutic.
However, there are always two sides to a coin. Not all real estate therapy is associated with negative events. Just like retail therapy, wherein some form of elation or positive change can bring it about, relocation can also be triggered by positive changes, such as a new job or a growing family. This form of change is easily dealt with and usually, people look forward to it.
It is a known fact that any form of retail therapy, especially those prompted by emotions would often times result to buyer’s remorse. The same goes for big purchases, like properties. Like any property purchase, real estate therapy should be approached with caution. Moving house can entail unnecessary financial and emotional stress, so buyers must carefully consider the decision relocate to avoid buyer’s remorse.