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Buying your first home Assignment

Category: Finance & Accounting Pages: 8 Type: Assignment Level: Master
Goal setting means aiming for something. When you aim for something, it includes affordability. Affordability does not only refer to budget related conditions, it could also be related to strength. If you are healthy and strong, you can afford to work continuously and earn income. For budget conditions, affordability can work for you "keep in mind that any existing or current debt will reduce the amount that you can loan for your home" (Money Magazine, 2006).
To carry the project, ask yourself if you can afford to spend that much and if not, you should be willing to live in a house which is cheaper and within your personal budget.

For this research work, the researcher used the descriptive method to gather data about the present conditions and to interpret these data through contrast, comparison, and relationships. A questionnaire which is designed by the researcher was utilized as an instrument to collect some data relevant to the research. Informal interviews with home buyers during the distribution and retrieval of the questionnaires were conducted. Printed books and internet articles related to the study were also read.
Related literature and studies for this particular study were reviewed. The review provided necessary information in formulating the method and procedure used in undertaking the research.
A. Literature Review

Sheller (2008) commented that in buying a house the buyer must know that housing rates may remain steady for a year, goes up next year, and higher next year; it never go down. It is different from stocks whose prices are not fixed - it could be high