Influence of Economic & Financial Factors in Buying Decision of Residential Houses in Chennai Market – A Study

Abstract

Buying decision of houses is not merely the outcome that buyers recognise and feel a vast difference between their actual state to the desired state of a new dwelling. But buying situation is triggered by other influencing factors pertinent to their environment. Predominantly, financial and economic conditions affect buyer’s High involvement buying decision such as residential house buying. Residential house buying is a stiff process as it implies large amount of investment and infrequent buying affaire. Buyers contemplate several criteria in which financial and economic factors are substantial before attaining an eventual decision of buying home. Learning the factors which prohibit the buying decision of consumers is also essential for real estate marketer. This study explores the buyers’ dominant economic and financial attributes influences decisions. The study adopts a descriptive research design. The data required is primary and the same was collected from the home buying aspirants in structured questionnaire patterns. This study has found significant influence of economic and financial attributes on buyers’ residential home-buying decisions.