Lesson 05 : Housing Choice - Ownership Versus Renting
Family Decisions On Housing Choice
The family is a complex unit comprised of individuals with varied cognitive, emotional, and behavioral characteristics and abilities that can greatly affect family decision process for securing a place to live.
Families obviously consider both economic and noneconomic factors to make decisions.
Government taxation policy, depreciation, capital gains and losses, and present worth analysis, buy versus lease analysis play a big role in housing decision.
The type of house that a family chooses for living is influenced by the family decision, location of residence, building design, space organization, and affordability by the family.
It may opt to live in an independent house, a semi-detached house or duplex with a common wall between two houses having separate entrances.
It has a option to live in a home either owned or rented.
Participants