Premium Essay

Housing

In: Business and Management

Submitted By billbo34
Words 391
Pages 2
In my research over the housing market in my journey to buy my first home I have found some interesting things. There is a lot to be considered when buying a home, and it is not just how nice the house is. I have to consider ten things in this process of purchasing my home. I will showcase these by giving you an example of each step that I have found in some articles that I have read. There is two sets of principles and the marginal benefit that also has to be considered.

The first principle is that most people face many trade offs. They trade what they have for either something better or something that is worse than their present living situation. This is something that most renters have to live with. The second principle is considering the cost of something and what you have to give up for what you are getting. This is very true for those who are first time home buyers. When you choose to buy from renting you have to look at the cost of your mortgage and what you will have to figure out what you are loosing to pay it.

With your marginal benefits you in a way that will help you to make the right decisions in buying your home. You have to be able to decipher the marginal benefits from the marginal cost. Marginal cost is what you will pay over all for everything from the closing cost to the moving cost. You have to make them balance out with each other to have a successful move.

The one thing that I have taken from the articles that I have read is that I am one who faces trade offs. I have always rented my homes so I have to trade the extra money for a home that is my own. If I cannot take into consideration everything that is in play then I will not be making an informed decision about homebuying. One article was from USA Today, it was a bit controversial. They are saying that the housing market is great, if you are rich. I also looked at The New York…...

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