New House
Sean Monahan
XECO/212
07/31/2011
Phillip Post

New House
When buying a house I will have to consider many things about the pros and cons of either buying a house or renting a bigger apartment and which would better suit my financial situation at the time. Do I have the saving and financial stability to afford a home right now in today’s market? If I can afford a house what are my limits for payments and the new house price that I can afford? These are few of the questions I needs to think that would suit my situation. I will go over each of these in my paper explaining how to look at each of these things when buying a house.

There are few principles that would come into play when thinking about buying a new house such People face tradeoffs. When buying a house I may have to give something’s in order to buy a house that I want. It may have to not go on that family vacation or even not go out every week to a dinner with my wife. I must look at the things that are things that I like or want to do and give them up for things that I need or need to do to get what I want. The second principles ties right into the same things as principle one, the cost of something is what you give up to get it. I need to look at what I am giving up and is it worth what I am going to get in return.

In the third and fourth principles bring together another whole aspect of buying house also. Will it be beneficial to my family if I buy a house now or will it be better to wait for the market to lower the house prices down the road? With the current house market value finally coming out of a slump like it has been in the past years, Bernanke states “would do a lot for stabilizing the market and helping give people confidence that they can buy and not buying into a falling market.” (Christie, 2011) With fewer foreclosures happening with all the government help that is out