Sales pitches for expensive items - either expensive in money or expensive in time needed - are designed to make you think about concepts of eternity. "A Diamond is Forever." "You'll never have to replace your windows again!" "Believe in this deity and you are guaranteed an eternal afterlife full of kittens and chocolate!" "Will you be comfortable passing this home on to your kids?"
When we make major choices, like our spouse, our home, our car, we tend to think that the object we are buying is the last one of its kind that we'll need. "I have problem," we think, as we enter the store, "and this item will solve that problem forever." However, in focusing on solving our big problems, the smaller ones of day to day life get swept under the rug, only becoming apparent after our major purchase is finished. This leads to the feeling of "buyer's remorse" that we all know so well.
It happens to us in the real estate market as well. (more…)