Place, form, function, and time utility also apply when buying houses. Place is most important, so we'll deal with that first. The place where a house is located usually has more influence on why people buy than other factors. Families like to buy homes within their budgets near work or good schools. Despite this, developers in search of cheap land have created housing tracts that extend for 20 miles from the city center. Although the initial cost of rural agricultural land when bought by the acre costs less, what about the infrastructure costs of roads, curbs and gutters, sewers, gas lines? What about the time required to obtain necessary zoning changes and permits? Impact fees? Interest? Property taxes? These all add to the costs of converting undeveloped land into housing tracts.

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