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Apply 2.1

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.
What should Brandon and Tracy do?
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?
2. Buy the house that’s in better condition. Should they choose this option? Why or why not?
3. 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?

Phyllis Mugure

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