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We didn't specify an area, just applied a variant of optimal stopping theory (secretary problem, a.k.a. marriage problem), and used math to determine where we live.
Wut
Howard-
https://en.wikipedia.org/wiki/Secretary_problem
Nerd nerd is nerd.
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Yeah.
Methodology:
- Define a criteria to score a property
- Visit three properties with no intent to offer, and score them to produce an average
- For each subsequent property, score it and if it's more than 10% above average make an offer
We literally did not define an area, just got on the mailing list of a couple of chain estate agents and looked at their new instructions or reductions that they emailed out.
We are very happy bunnies as this place is a dream place for us in an area we do like a hell of a lot, and at a price we could afford.
We would not have seen it using the original area based approach as it wasn't a first choice area and we would've been looking elsewhere.
I figured that our inexperience could be supported by some math, and chose https://en.wikipedia.org/wiki/Optimal_stopping as the primary way to approach it.
- Define a criteria to score a property
CYOA
Velocio
When we move in I guess.
Our methodology amused people. We didn't specify an area, just applied a variant of optimal stopping theory (secretary problem, a.k.a. marriage problem), and used math to determine where we live.
We've only been looking for 10 days... and it turns out this Crouch End place is lovely.