Watch the video, Decision to Own a Home vs. Rent, located at the pursual link: hypertext transfer protocols://ecampus.phoenix.edu/ situate/aapd/materials/videos/FP120.html
Tom and Tammy Jones have been renting a post for 5 years. They have been saving money to acquire a house for their family and have all over half of the down defrayment set aside.
The house the Jones have been living in has been exchange and they are trying to figure out what to do. They are considering the following options:
o Move in with Toms parents, who have sex nearby. With the low room and board they will redeem, they should be cap open to buy a house within a year.
o Rent a house. Rental prices have gone up, so if they do this, they will non be fitting to conduct to their down payment account.
o Move to a less(prenominal) expensive town, which will add 45 minutes each(prenominal) way to Toms commute. They will be able to add to their down payment account and should be able to buy a house within 3 years.
What should the Jones family do? Discuss your reasons for making the choice you did.
Review the Home compute Calculator located at the following link: http://wps.pearsoncustom.com/wps/media/objects/7557/7738468/fin-calcs/HomeBudget.html.
Input the requested information from your paycheck and on the expenses page. Did you contract this calculating tool useful? Explain why or why not.
DQ #1:It is not always an easy wait on to buy a root word. Many home buyers encounter obstacles, and it is not unusual to run into flying monkeys and wicked witches along that yellow(a) brick road to home ownership. The first step in home buying is to prepare for the obstacles.Of course, no one knows when prices will shine rock bottom, and if you wait for prices to fall further, you could miss out. Because of this uncertainty, it is best to buy a home because you need a roof over your head, if the price is comparable to renting and you plan on sticking with the home long enough to make the deal pay off.
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