Young adults’ socialization in housing and real estate purchase decisions in India

Abstract

Purpose The purpose of this paper is to understand the influence of young adults’ socialization and product involvement on family housing and real estate purchase decision-making process. While previous studies have used these constructs in the fast-moving commercial goods category, this paper is considering the real estate family purchase decision as the core point of research and analysis. Design/methodology/approach Data were collected from 429 young working adults across various sectors in India. The proposed conceptual framework is tested using structural equation modeling. Findings The findings suggest that the teenagers with high social life have a better say in the decision-making process. It was also found that the young adults’ product involvement (measured in terms of gratification and symbol) construct shows how involved they are with the final decision-making in a family. The results suggested that the more young adult socializes, the more voice he has in the family housing and real estate decision-making process. Originality/value This paper is the first to analyze the role of teenage socialization and product involvement on family housing and real estate purchase decision-making process. This paper will be practicable to all the stakeholders of the housing industry as a whole.