The factors influencing the house buying decisions
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Abstract
This research is quantitative research aimed to study the lifestyle factor of living which influence the decision to buy housing, the reputation of the real estate development company, and decisions in the selection of both horizontal and vertical housing, based on the conceptual framework of applied research. This research applied the concept of decision-making based on Hierarchical Elimination by Aspect: HEBA, location theory, housing style, consumer behavior theory, the reputation concept, and the survey method through the data which were collected by 406 stratified samplings from prospective buyers and residences, to answer the experimental questionnaires and analyze the data using a nested logit model.
The statistical results show that the factors influencing the choice of housing consist of three main components: the characteristics of the location, the reputation of the property developers, and lifestyle of the residents, Besides, there are other factors that affect these decisions; the proximity of the distance between the residence to central business district (CBD) or to workplace, and the confidence to buy reputable homes. Gender, age, and income of prospective residents also have a statistically significant impact on home purchasing decisions as well. This research focuses on surveys in Bangkok and its vicinity, not studying in other provinces or regions, which is a limitation of this research.
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