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XECO 212 Week 1 Checkpoint A New House

XECO 212 Week 1 Checkpoint A New House - new house Another...

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Week 1 Checkpoint 1 Checkpoint: A New House - Readiness Your Name Axia College of University of Phoenix
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Week 1 Checkpoint 2 A New House – Risks and Benefits Deciding to buy a house as well as having a baby is going to be a major steeping stone in my life. I not only have to take into consideration the economy when choosing my house, I will also have to plan for the additional expenses of raising a child. In order to afford to buy a house and raise a child, I will have to make some sacrifices and changes to my lifestyle that I am currently used to. This step is based on the principle of trade-offs. I will have to give some things up that I currently enjoy in order to get something else that I want. An example of something that I can give up deals with the area of entertainment. I currently spend $200 per month on entertainment such as movies, eating out, and bowling. By cutting back on my entertainment expenses I will have that $200 to budget into the amount of money I will have available to purchase a
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Unformatted text preview: new house. Another principle that comes into play with my decision to purchase a house is incentive. I would have been happy and content to remain living in my apartment indefinitely if not for the fact that I am going to have a baby. Since I am going to have a baby and my apartment does not have enough room to accommodate this factor, I have the incentive to move into a house that will have enough room for my child and me to live comfortably in. I know that buying a house is not going to easy. At this time the economy is in distress, therefore banks are unwilling to extend a line of credit for a loan to purchase a house. The upside is that it is a buyers’ market right now. This means that owners are selling their homes at prices below market value. Week 1 Checkpoint 3 References: Axia College of University of Phoenix. Principles of Economics. Week 1 reading. Retrieved May 5, 2010. XECO / 212...
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