A New House- Readiness

I think that the one of ten principles that plays a major role in my house buying decision is opportunity cost. Opportunity Cost is induced by scarcity, and by the need to make choices. All choices always involve opportunity cost because deciding in favor of one option always means deciding against some other options. There are two main aspects of opportunity cost: 1) Utility maximizing choices induce opportunity cost to be minimal. 2) Choices may be revised when opportunity cost rises.

I think this is my major role choice is because when I am buying a house, I purchase them when the opportunity is there and I have the choice to buy it. I take a lot of factors into consideration. And throughout all of the years of my experience of house buying, location is one of them. I do not shop for a house because of price first. I shop for location, then I choose square footage and how many bedrooms, acreage, then price.

Decision making is the process a person goes through to make the choice to buy a house. Interaction is the movement of having the interactions with others. The workings of the economy are how money works the best way for a person.

Decision making, interactions, and the workings of the economy all influence the marginal benefits and marginal costs associated with the decision to purchase a home by first altering your decision to buy a house. Second the person selling the house has to want to agree to the price you have to offer. And third, depending on how the economy is going that day will have a great influence on the sellers’ selling price of the house you are interested in.