CheckPoint A New House--Readiness

CheckPoint A New House--Readiness - A New HouseReadiness 1...

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A New House—Readiness 1 CheckPoint: A New House—Readiness Noel Young XECO/212 5/13/11 Elena Zee
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A New House—Readiness 2 One principle that plays a major role in the decision to buy a home is “People Face Trade-offs.” People face trade-offs every day for goods, including houses. The main trade-off is money for the good, or goods. Like the old saying goes, “nothing is for free!” You have to provide something of value to the other person to get what you want of his or hers. Another principle that comes into play is “The Cost of Something Is What You Give Up to Get It.” You have to give up the amount of money that the good, or product, costs to the seller. In this case, the amount of money that the house costs is the amount of money you give up to the owner or realtor. “People Respond to Incentives” is another principle that plays a major role in the decision to purchase a new home. If the buyer is going to get something like a reward for purchasing the house, then, there will be more people interested in buying the house. For
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This note was uploaded on 06/13/2011 for the course XECO 212 taught by Professor Cohen during the Summer '10 term at University of Phoenix.

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CheckPoint A New House--Readiness - A New HouseReadiness 1...

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