Eco 212 Final - A New House- The Decision conomics a Nov....

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ouse- The Decision c o n o m i c s a ight decision when contemplating whether or not to purchase a home. A New House- The Decision Nov. 14 A New House- The Decision
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Introduction : The decision to purchase a new home is one that requires great debate. The main determining factor in most cases is the cost of the home to be purchased and the ability to afford it. The wrong decision could lead to catastrophic results both financially and emotionally. Many people go into the process without the full understanding of financial responsibility that comes with owning a home. There are maintenance costs as well as taxes that many people never consider when deliberating the initial purchase. To many, the ownership of a home is seen as a way to feel as though you have made it. It is an element of the American dream that everyone hopes to one day achieve and it is this feeling that could lead people to make uninformed decisions. This essay will be an analysis of when is the right time to purchase a house, as I see it. Principles of Economics: There a number of economic principles at play when deciding when and if to purchase a new home. Thinking at the margins causes people to try to find the best financial deal for themselves. You would always like to get something more valuable than what you paid for it. Trade-offs will have to be made in order to purchase a new home. You may have eaten out five or six times a week, know you will have to scale back in order to cut back on spending. Homes can come with many features that can be
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A New House- The Decision described as incentives when on the market. A newly remodeled bathroom or kitchen will make a home more marketable and attractive to potential homebuyers. When
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Eco 212 Final - A New House- The Decision conomics a Nov....

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