{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Final 1 - Sergio Royston NEW HOME Purchasing a new home is...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Sergio Royston 5/1/2010 NEW HOME
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Purchasing a new home is a huge decision that requires a substantial financial layout where the wrong decision may have be very damaging to the buyers financial situation. When buying a house, it is important not to jump in too quickly. Many people disregard the financial impact that homeownership can have when looking into purchasing a home. People making a home buying decision should consider the obvious and not so obvious costs their actions could bring (Slembeck, 2006). It is important to focus on your budget and understand the consequences of not meeting your mortgage payment. After comparing the financial obligations with the home the marginal benefits and marginal costs that would influence the decision of purchasing the home would be: expensive upkeep, insurance, own landlord, more room, interest, principal, and spec homes. Although, there might potential problems that can occur when completing the purchase of the home, I would still go forward and take the step into making my family happy and comfortable. Demand, what is needed, how can it be obtained and what is the outcome once the decision has been made. Purchasing the home would require knowing that once papers have been drawn that there is no going back and if so that a great deal of money would be lost. “A weak economy, dismal job market, foreclosures, fears of further declines in home values and tight credit conditions are among the factors weighing the housing market down.” (NABH, 2009).With that being stated it would be hard to just jump into purchasing a home and not think of the conditions that may lay ahead. The strength of the economy as whole could affect the marginal benefits and the marginal costs associated when making a decision to purchase a home. We make personal and societal decisions of great importance every day in response to various kinds of economic issues and problems. When there are
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern