The Psychology of Real Estate
Maslow’s Hierarchy of Needs is a five-level model of human needs. These tiers are divided into three sections; the first being basic needs, the second psychological needs, and the last being self-fulfillment needs. The idea is that basic needs need to be satisfied before moving onto the next tiers. These basic needs include food, water, sleep, and shelter.
Today we’re going to focus on the basic human need of shelter. As an investor of real estate, you are investing in a basic need of every individual, housing.
When discussing investing in condos, one of the first questions asked are “How do I know I will get a tenant?” and “Why would someone want to live in them?” These are fair questions to ask.…