A New House

A New House

  • Submitted By: monica3000
  • Date Submitted: 04/04/2014 6:18 PM
  • Category: Business
  • Words: 1275
  • Page: 6
  • Views: 3

A New House
Buying a new home is not to be taken lightly. Buying a new home is going to be one of the most important decisions a person or a couple will make in there live. To buy a home is not something a person does every day. Millions of Americans consider buying a home, is taking the next step in life. Make sure that it is the next step that you want to take. The decision to purchase a new home in today’s real estate market is a considerably difficult decision to make after weighing the advantages and disadvantages. The current real estate market dictates that today is a perfect time to buy a home as prices are low and interest rates are at all-time lows as well. The real estate market is typically broken into two markets; a buyer’s market and a seller’s market. In a buyer’s market, sellers stand to lose some ground in the bargaining process because a larger number of homes on the market offer buyers a wider selection of homes to choose from. In this situation, buyers have a comparative advantage over sellers because buyers can demand incentives from sellers to close the transaction or find another agreeable seller.
When purchasing a home you need to ask a lot of questions before deciding to a home. Some of the issues would be readiness, financial, and emotionally ready to buy a new home. You must also look at your budget, like your income, savings, and insurance. You should make sure that when buying your home you are ready for the long haul, because you are going to have to pay a mortgage and you are going to be responsible for the repairs yourself versus you renting from someone else and they have to pay or do all the repairs. When purchasing a home you want to look into a good location with great schools, a family oriented neighborhood, as well as being a secure area. There are various principles of economics that can be applied to a decision to purchase a new house. First, one of the principles will be that of trade-offs which...

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