Supply and Demand-Purchasing a Home

In: Social Issues

Submitted By skipwosr
Words 723
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Purchasing a Home
Purchasing a home is a major decision that must be well-thought-out. When consumers are deciding to purchase a home there are many dynamics that must be taken into consideration. Available substitutes that should be considered, complements that are necessary for when you purchase a home, and the price which can be affected by necessity as well as factors that could cause changes in supply and demand.
There are many substitutes, or alternative, available for consumers who are considering purchasing a new home. Before deciding to make the commitment involved with purchasing a home, consumers should consider renting instead. With a set monthly payment and a contract that entails a much smaller timeframe, this option is better for some. Condominiums and townhouses are also substitutes for purchasing a home. These can be available for both renting and purchase, and the cost is quite a bit lower for these options. Mobile homes can also be a substitute for purchasing a house. Consumers must carefully weigh the options to see which alternative is best for them.
Complements are also something that must be considered when purchasing a home. These are items that are necessary to be purchased along with a home. Insurance is a major necessity that must be purchased along with a home. This is not usually an option, but actually a requirement included in most contracts for home purchases. When one chooses to purchase a mobile home a complement that must be purchased is land to place the mobile home on. Land purchases can also help reduce the price in both the mobile home and the insurance, making this complement beneficial as well as necessary for the consumer.
Price is usually the main influence on the consumer will consider when making the purchase of a home. There are many factors that can cause changes in the price of homes. Supply and demand has a…...

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