Belize Forum

Fairytales
Joined 2018
Posts: 82

5 years ago

Why do so many make the "buy" mistake?

5 years ago

You guys have seen it how many times? 1,000- 5,000 times? Some new person, usually somewhat traveled & educated, shows up (self incl)thinking of "getting a place in_____" and they (we)always seems to think "buy" as first instinct?

It's an interesting rabbit hole to think about because there are two distinct parts to that. One being the desire to "possess a piece of nature" which in itself is kinda ludicrous but one I'm guilty of. Then the second part is the instinct to buy rather than rent, even if that person had rented an apt at some point in their lives.

Any takers on speculating why so many leap to "buy" vs "extended visit" first?

OK, now that you've had an extra second to ponder, I think that FOR ME, it's because as Americans, we get certain tax benefits from owning(only if you owe a bank or mortgage co) so once we make the leap from renting to owning, it becomes a mindset. In a foreign land though, there won't be those tax bennys many buy outright. Once recognized in myself, it was a fairly easy process to loosen that up and to reason out that renting would be prudent in 999 out of 1000 cases.

That's just for me though and I'm curious as why you guys think people jump 'all-in"?

jeff

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