A New House: Readiness
Xeco/212
Angela Rogers
Due: Friday May 24, 2103
Pamela Hammock
Xeco/212 Page 2
I feel that purchasing a new home is one of the biggest decisions a family can be faced with. I know that because of the person that I am the main principle I would use when purchasing a new home is the second one, which was the cost of something is what you give up to get it. However it would be safe to say that a decision this big over a period of time would at some point factor in all 10 of the principles. I feel this way because you never know what the future may hold and if you were to make any mistakes when making this decision it could create all kinds of financial problems. If I were making a decision like this I would have to take several things into consideration. One of the things I would consider is the timing. I would want to take baby steps or so to speak, like building smaller goals and going for those first until I reach the final goal of purchasing the home. I would have to weigh my options as whether to buy a house or renting a bigger apartment would be better than the small studio. Yes we would definitely need something bigger with a baby on the way. Another thing to consider is where you would want to send your child to school especially if you are purchasing a home. You would also have to consider the economy and how the real estate market is holding up. You would not want to buy a house and then the value decrease a year later because of things going on in the economy. I feel that there are definitely a lot of tradeoffs that can be considered for example if I bought a home I would have to factor in things such as property taxes and home owners insurance. If I chose to rent a larger place I have to consider the fact that I will be paying rent for who knows how long which is basically throwing money into
