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Factors Important in the Decision to Buy a First Home

Author/s: Valerie Kupke

Date Published: 1/01/2008

Published in: Volume 14 - 2008 Issue 4 (pages 458 - 476)

Abstract

The purchase of a first home is seen as a very important stage in the housing career of an individual or household and has received considerable attention in the literature. Explanations of the switch in tenure have traditionally been explained using the family life cycle or the life course models. More recently, the importance of housing market factors has been recognized. This study reports on a survey conducted in Australia in March 2000 in which first home buyers were asked which factors were most important in the timing of their decision to purchase. Attention was paid to the sampling process in order to ensure a representative sample. The results show that housing market conditions are critical in understanding the timing of the decision to purchase a first home.

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Keywords

Home Purchase - Housing Career

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