Factors Influencing Home Buyers’ Decision Making and The Consequent Impact on Housing Development by Property Entrepreneurs

บทคัดย่อ

This study aimed to examine factors influencing word-of-mouth communication (WOM) and housing purchase decisions among prospective buyers of single-detached houses in Northern Thailand, with WOM positioned as a mediating variable in the conceptual framework. A quantitative research design was employed. The minimum required sample size was determined using Cochran’s formula (1977) for an unknown population at a 95% confidence level and a 5% margin of error, yielding 385 respondents. Using convenience sampling, data were collected from 416 eligible prospective homebuyers in Chiang Mai, Chiang Rai, and Phayao Provinces through a structured online questionnaire measured on a five-point Likert scale. Data were analyzed using descriptive statistics and multiple linear regression. The findings showed that price significantly influenced WOM (β = 0.435, p < .001), whereas product quality did not (β = 0.091, p = .162). The model explained 25.7% of the variance in WOM (R² = 0.257, Adjusted R² = 0.253), while the remaining 74.3% could be attributable to other factors that were not included in the model. For housing purchase decisions, financial accessibility was the strongest significant predictor (β = 0.441, p < .001), followed by price (β = 0.165, p = .015) and location (β = 0.150, p = .001). Product quality (β = 0.070, p = .198) and WOM (β = 0.020, p = .614) were not significant. The model explained 54.9% of the variance in housing purchase decisions (R² = 0.549, Adjusted R² = 0.544), while the remaining 45.1% could be attributable to other factors that were not included in the model. These findings indicate that homebuyers in Northern Thailand primarily base purchase decisions on financial feasibility, affordability, and location, providing practical guidance for developers in pricing, financing support, and residential project planning.