Dave and Amanda are a young married couple that have 1 young child and another one on the way. They have lived in their apartment for the last year, and got an internal stimulus that their apartment is too small. They think buying their first home will give a lot of value to their family.
evaluation of alternatives
Dave's perceived value is that with their second kid on the way, when he comes the two children can have their own room. This way, the two kids won't be crammed in the parents room.
Dave decides to do an external information search on his computer to browse for homes in the area, while Amanda gets on the phone to call a realtor to help them.
Amanda finds a realtor named Shelly to use as a reference group. She put her on speaker and they looked for homes. Dave and Amanda decided to look at a nice home made of brick with a big yard for the kids to play.
Dave and Amanda went with Shelly to look at the home. They both thought it was perfect fit for their family. They took a few days to make their decision. They decided to make an offer, and it was later accepted, they finally bought their first home.
1 month later: Dave and Amanda found some nice furniture for their new home. They both has a good cognitive dissonance towards their new home. They loved their decision of buying their first home. It had plenty of bedrooms, a big living room, and everything their family could ask for.