Mgt 230 Decision-Making Process

Decision-Making Process

Ingrid Mendez

Management Theory and Practice

MGT/230

April 14, 2012

Professor John Kennedy

Decision-Making Process

How to Buy a Home

Buying a home is a complicated process, and it can be particularly daunting for the first-timer and I was not an exception. There are a lot of requirements and steps involved, is not just having the power to buy the house, also have the ability to handle the property to conserve your inversion.

In order to choose a property wisely, the advice form a realtor is necessary. When the journey began for me I seek immediately a knowledgeable person to guide me through the process. To start the process, you need to put your finances in order and determine how much you are able to pay monthly; based on that you will be able to discover what kind of property you can afford. While working on the financial aspect, please remember to consider the property taxes, the interest and the homeowners insurance; most lenders do not include those figures in your monthly mortgage payment.

My next step was to look for a property with all the qualities that I was looking for, like location, neighborhood, schools, accessibility, etc. In order to do that, I did a thorough research. Although, I did my best to be aware of little details; the time I allocate to buy my house was too short. Looking for a property is not an easy task; we visited many houses before I could find one that would work for me and in very good move in condition.

Once I found the property, I was very satisfied with the results. Buying a property it is not a fairy tale, once you find it you think you are done; but then the appraisals, the inspections and the closing got me a little discouraged; took me a month to close on this house.

After reading the decision making process in the book, I understand that it is very important to have a contingency plan. On my case I believe that in order to plan effectively...