Making a major Purchase Term Paper Example | Topics and Well Written Essays - 1000 words

reservation a major Purchase - Term Paper ExampleThe need for shelter is a necessity. Such, individualistic has to buy a house at some time or another. The bigger question would be when and will it be right time to buy it. The act of purchasing a house is relatively infrequent and generally constitutes an individual or a familys single most important coronation and expenditure (Levy et al., 2008 pg. 253).To make the analysis clearer in this case, let us assume that the buying decision to buy will be made on cash. Buying on cash can also lay down clearly the stinting principles behind making such decision or indecision. To illustrate further these economic principles, let us assume that the buyer is a typical middle class with a habitue job and regular income that making a purchase would require a serious evaluation on his or her part.A house is a need. It shelters us from the vicissitudes of the weather and the inclemencies of the storm. It provides a place for rest and enter tainment where we can grow our families and live as a person.But before getting those benefits, we can hire what we have to give up. This consideration is very important because purchasing a house is the most valuable purchase that we will make. In addition, we have to be careful in letting go of our unparalleled resources especially that we are still in the process of recovery.The economy has to be considered in making that purchase. on that point are two things that should be considered before making that purchase first, is the economic condition of the economy as this will hear the price of the house whether it is the time to make the purchase and this will also determine the individuals capacity to pay.The economy is still in the process of recovering and it may be slow certainly not entering into a recession as observed by Fred Smith, the hot seat and Chief Executive Officer of FedEx Corp. (FDX) (Del Giudice, 2011).