Out of the ten principles I think the major principles that would affect my decision to purchase a new home would be: Principle 2: The Cost of Something Is What You Give Up to Get It, Principle 4: People Respond to Incentives, Principle 7: Governments Can Sometimes
Improve Market Outcomes.
I chose these three principles simply because purchasing a house is a very difficult and long term financial responsibility. Although this is costly I would be willing to sacrifice finances in one area of my life to enjoy the long term benefits of purchasing a home, which is where Principle 2 takes place. During my research to purchase home I would look for the government programs or offers like a first time homebuyers incentives like money back. Hopefully at the time of purchase I would be eligible for one of these government programs which help with Principle 4: People respond to incentives, I would be happier about my new home purchase if there was a program or incentive like this was offered. I think principle 4 and principle 7 coincide with each other during my business making process because if the market is not doing very well then it would be harder for me to purchase a new home because of the price of homes and inflation. Inflation affects every area of life from the purchase of a tooth brush to the purchase of a home. So if other areas of my life have increased then purchasing a new home would make living and the cost of living a little higher for me. Although all of these principles play a factor in my decision making process, I think the happiness and longevity of a new home would benefit me more in the long run.