Decision-making process in home-buying: a systematic literature review

Abstract

Real estate activity is permeated by numerous risks, which can make the investment made in a development unfeasible, to a certain degree. One of the most impactful risks is the lack of adequacy of the product to the market that is intended to. Hence, it is essential to understand the behaviour of a project’s target consumers, which makes it crucial to understand how their decision-making process occurs and which factors and attributes impact on their choice. This study presents a systematic literature review, aiming primarily at identifying clusters for content analysis and a proposal of classification of the factors that influence the decision-making of customers buying homes. The results obtained indicate that studies on the matter are recent and have been increasing in number in the past few years, and also that there the offer of Brazilian publications on the subject is insufficient. Only few studies include all the categories of aspects that influence the decision-making process studied, with the factors related to consumers markedly absent.

Keywords:
Real state; Consumer behaviour; Decision making; Housing; Systematic review