MCS 2100 Lecture Notes - Lecture 7: Refinancing, Roofer, Credit History

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 2100
• Professor: Rosemary Vanderhoeven

Document Summary

Every buying decision you make is a statement about your lifestyle: your lifestyle, needs, desires, and attitudes are reflected in your choice of a place to live. Finances modify final choice of a housing decision: you should spend no more than 25%-30% of your take-home pay on housing, or your home should not cost 2. 5x than your annual income. Choice between renting or buying your residence should be analyzed based on lifestyle and financial factors. Exhibit 7 2 helps assess buying and renting alternatives (p. 201) Mobility primary motivator of renters, while buyers usually want permanence ** Renting generally costs lower in the short-run, but home ownership has long-term financial advantages. World wide web has become increasingly popular. You may rent when you first live on your own or later in life when you want to avoid the activities needed to maintain your home.