Abstract
Builders and sellers of new houses, condominiums and mobile homes have increasingly included household appliances and furnishings as an incentive to encourage consumers to purchase these housing units. Although the cost of appliances and accessories are added to the purchase price, they can many times be financed with additional mortgage funds. As a result of this, the consumer must make a decision on (1) whether to acquire them, and (2) if acquired, the method of financing. This paper examines the advantages and disadvantages of purchasing appliances from builders and first‐hand sellers of new houses and other types of living units and alternative methods of financing. The purchaser must decide whether the appliances should be financed through additional mortgage funds or through the more conventional consumer installment credit. A method of analysis is presented that can be used to determine which manner of financing produces the financing at least cost.
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