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What should brandon and tracy do

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Reference no: EM132650395

Brandon and Tracy both have demanding jobs and live in a beautiful $1,200 a month apartment. They're considering buying their first home and have found two they like. Each costs $200,000; the monthly mortgage payment will be $1,298. The house they prefer needs a lot of repairs. To buy either, they'll need most of their savings for the down payment and need to cut back on a number of things in order to pay the new monthly expenses.

Question 1: What should Brandon and Tracy do?

Question 2: Keep working, saving, and enjoying their apartment until they can buy a house they really want. Should they choose this option? Why or why not?

Question 3: Buy the house that's in better condition. Should they choose this option? Why or why not?

Question 4: Buy the house they prefer, even though it needs repairs. Should they choose this option? Why or why not?

Helpful tips on getting started:
Introduction: Rent verse Buying

Body of Paper: Based on their situation, choose the best possible option. Then, for each option, write a few sentences about why the option was right or wrong for Brandon and Tracy's situation.

Conclusion: In your opinion, is it still a status symbol to buy a house?

Reference no: EM132650395

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