Filice_A_XECO_Principles_1

Filice_A_XECO_Princi - afford will you be paying more or less per month then if you stayed a renter Another way to look at it is that the cost of a

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Anthony Filice September 16, 2011 XECO 212 Yvonne Shivers CheckPoint: A New House Buying a house is a huge purchase as well as a huge commitment, one that I have been considering for about a year. My girlfriend and I have attempted to buy 3 houses, and have been pushed passed our budget every time. So this puts me at an advantage because I have actually encountered some of the principles of economics during this long process. Facing trade-offs is one of the first things a person experiences during the home buying process. For example, some of the trade-offs that you must consider are Renting versus Buying, and also House versus Apartment. Is buying the better option, and can you maintain the house yourself instead of relying on your landlord. Cost is another principle you must take into consideration, what you can
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Unformatted text preview: afford, will you be paying more or less per month then if you stayed a renter. Another way to look at it is that the cost of a home is an investment for years to come, not just throwing money away as if you were renting. Incentives is another one that you will come across when you are trying to close a deal on a house, like if the seller pays closing costs, or repair the roof out of their own pocket as part of the deal. The last, but certainly not least, is the main factor that I am looking to buy a house, the market, the area that I live has been hit hard by the down economy so the housing market is suffering, but only for people looking to sell, buying a house in a down market means lower prices than a normal market....
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This note was uploaded on 12/18/2011 for the course XECCO 212 taught by Professor Walker during the Winter '11 term at University of Phoenix.

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