Question

You are in the process of buying a new home!

Now consider the following:

1. The New Home

2. Furniture

3. Plates, Utensils, Cups

4. Towels and Blankets

5. Decorations for the home

6. Bank for a mortgage loan

7. Realtor to help you look for a new home.

8. The neighborhood where you will move to

9. Schools near your new home

10. Shopping and restaurants near your new home

this is about High and Low Involvement, Consumer Decisions, and Factors that affect our choices. Now answer the questions below in detail.

A. Which of the above do you consider to be HIGH INVOLVEMENT items? Simply make a list.

B. Which are LOW involvement? Again, make a list.

C. Explain what your thought process would be if you were considering buying a new home. What affects your choices?

Answer 1

Hi,

Hope you are doing well!

Question:

Answer:

A). Answer:

I am in the process of buying a new home! So, i will consider to be HIGH INVOLVEMENT items as follow (Maximum to Minimum):

1. New home

2. The neighborhood where i will move to

3. Schools near my new home

4. Shopping and restaurants near my new home

5. Bank for a mortgage loan

6. Realtor to help me look for a new home.

B). Answer:

LOW involvement are following as (Maximum to Minimum):

1. Towels and Blankets

2.  Plates, Utensils, Cups

3. Furniture

4. Decorations for the home

C). Answer:

My thought process would be if i was considering buying a new home that affects my choices are following as:

I will analyze and evaluate the following things step by step and then take a final decision of buying a house. I will l analyze and evaluate the below mentioned things step by step:

1. Budget: How much i can spend for a new home. I will also analyze my current and future's expected cash flow with my assets and liabilities .

2). Financing: I will analyze the financing cost or debt cost ratio. Its depends upon on my previous cash flow, assets and liabilities and overall cost of debt or loan in the form of EMI. I will comparison the cost of loan/interest rate between banks and will select a right bank that will offer better.

3). Neighborhood : Our surrounding is a vital thing and play an important role in our lives. A good neighbor always creat positive environment and make the life easy and happy also.

4). Surrounding: Surrounding must should be in our favor and helpful in leaving my happiness and life. There must should be near by presence of hotels, restaurants, schools, playgrounds etc.

5. Retailers: I will talk to many retailers and find a best retailer who has better bargaining capacity with home owners, capable to arranging the other facilities and supportive in nature and also have better price options.

Thank You