Abstract
Buying a housing property is exciting because it marks the beginning of a whole new chapter. Before start looking for a house, it is very important to understand the intention of buying a housing property, whether it is as an investment or for self-occupation. This will affect the type of property to be purchased, whether it is a landed property or a high-rise building. Many potential homebuyers, especially first-time homebuyers, make buying mistakes for the wrong reasons, which makes the process of trying to sell their homes long and expensive. Deciding on the type of property is one thing, but then you must weigh all the pros and cons, as well as the average house price, which can vary greatly. Housing property is a commodity and involves multiple processes. Therefore, this article intends to study and develop the conceptual framework of the housing purchase decision-making process. This article first reviews the conceptual definition of housing purchase intentions and decisions. Next, this article reviews past research to understand the similarities of housing purchase intentions, preferences, and decision-making, and to develop a basic conceptual framework. This article also discusses consumer behaviour as homebuyers in the housing purchase decision-making process.
Highlights
House plays an important role in human’s life (Mariadas, et al, 2016) which provides peace and comfortable space for a family (Hassan, et al, 2021a)
Before start looking for a house, it is very important to understand the intention of buying a housing property, whether it is as an investment or for self-occupation
This study is in the archival category, with its outline functioning as a review of the empirical literature on housing purchase intention, preferences consumer behaviour and process in purchasing a housing property
Summary
House plays an important role in human’s life (Mariadas, et al, 2016) which provides peace and comfortable space for a family (Hassan, et al, 2021a). Petrus said that the house can show people's living standards and social status. Some individuals may purchase housing properties only for investment purposes, while others aim to upgrade their lifestyles. Housing purchase decision can be explained as buyers would understand the purpose of buying residential properties and would measure the related factors before deciding to buy a house (Thaker and Sakaran, 2016). The residential property purchase decision can be implicitly a decision to purchase a house while the house meets the needs and wishes of the buyer (Wang, 2013). This article intends to study and develop the conceptual framework of housing purchase decision-making process. This study is in the archival category, with its outline functioning as a review of the empirical literature on housing purchase intention, preferences consumer behaviour and process in purchasing a housing property. Relevant information in this study were obtained through secondary sources, namely academic journals, conference papers, articles, textbooks and websites
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