Socio-economic Factors That Influence Housing Choices Flashcards
List the socio-economic factors that influence housing choices.
(6)
Income
Size
Family stage
Personal Preference
Special Needs
Location
How does income influence housing choices?
3
Individuals will need to be able to obtain a mortgage and afford the repayments if considering buying a house
If considering renting, they will need to be able to meet monthly rent costs
The running cost of a home will also influence house choice as larger home will require more money for heating and maintenance
Why does income need to be considered when buying a home?
One needs to be able to afford the mortgage repayments
Why does income need to be considered when renting a home?
One needs to be able to meet monthly rent costs
Why does the running cost of a home need to be considered when choosing a home?
The running cost of a home will influence house choice as larger home will require more money for heating and maintenance
How does size influence housing choice?
The larger the family, the more space required, e.g. a larger kitchen/living space and more bedrooms
How does family stage influence housing choice?
A family with young children will have different housing needs from a retired couple, e.g. greater outdoor space, a study area and separate bedrooms for children, affecting housing choice
How does personal preferences influence housing choice?
Personal likes and dislikes regarding a home’s exterior and outdoor space, layout, interior decor or view will influence a person’s decision when choosing a home
Personal preferences may influence housing choice on what grounds?
(5)
Exterior
Outdoor space
Layout
Interior decor
View
How do special needs influence housing choice?
If a family member has a special need, e.g. a physical disability that causes them to use a wheelchair, it is important to choose a house that meets their needs, e.g. a bungalow with a ramp
Name a disability which would influence housing choice.
A physical disability that causes an individual to use a wheelchair
What type of house would be suitable for someone with a wheelchair?
A bungalow with a ramp
How does location influence housing choice?
2
As location determines the price or rental cost and the future investment value of the property
Homes in towns or cities tend to cost more due to their proximity to work, schools and amenities
Why do houses in towns or cities tend to cost more?
Due to their proximity to work, school and amenities
What does the location of a house determine?
2
The price or rental cost
The future investment value of the property
