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Baney_Robert_WK1checkpoint - I have considered purchasing a...

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Unformatted text preview: I have considered purchasing a new home; I am going to involve all the 10 principles of economics in my decision to see whether it is the right time to buy. The most important part of purchasing a home is the financial area with income, taxes, and annual percentage rates. If you are not prepared to give up something to get something then it is not the right time to buy. I have to remember even though the APR’s may be low and I have my down payment or even if I am using HUD as a first time buyer to eliminate closing cost or no fees at all there may still be one depending on my situation. Purchasing a new home is a big step not only the financial part of if but also the area I chose and the economy at this point and time. I must think ahead to how the economy will be now and later, as well as the housing area I chose. I need to determine if a recession will place my decision in purchasing a home the wrong time to buy. A recession could cause job lose and no income to pay my mortgage or even placing me in default to take...
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