Question

define the topic and write least five things about this topic ( 2 paragraph)

The Housing Decision: Factors and Finances

Answer 1

Housing represents the largest expenditure most people will encounter. Your choice of a place to live will require an extensive use of our resources, both time and money. The decision of when and where to buy house plays a crucial role in every one’s life. There are lot of factors person consider before making decision to buy house. The entire process of buying house including finance and factors covering behavior aspect also.

1. Housing Alternatives: Which considers the lifestyle and opportunity cost of housing i.e. Time, loss of tax advantages and equity growth, time and effort involved when you have a home built to your personal specifications etc.
2. Renting vs Buying: Living in a mobile society affects the decision as to whether to rent or buy your housing. Your choice of residence should be analyzed based on lifestyle and financial factors
3. Find and Evaluate a Property to Purchase : Determining the Home Price and negotiating the purchase price.
4. Determine the Amount of Down Payment: Private mortgage insurance (PMI) is usually required if the down payment is less than 22 percent. This coverage protects the lender from financial loss due to default.
5. The Application Process and Fixed-Rate, Fixed-Payment Mortgages