Question: Preparing a personal budget is a great first step toward control over your personal finances. It is especially useful to prepare a budget when you

Preparing a personal budget is a great first step toward control over your personal finances. It is especially useful to prepare a budget when you face a big decision. For most people, the biggest decision they will ever make is whether to purchase a house. The percentage of people in the United States who own a home is high compared to other countries. This is partially a result of U.S. government programs and incentives that encourage home ownership. For example, the interest on a home mortgage is tax-deductible.

Before purchasing a house, you should first consider whether buying it is the best choice for you. Suppose you just graduated from college and are moving to a new community. Should you immediately buy a new home?

Discuss your position regarding this situation. Provide support for your view.

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