Xmgt 230 - Decision Making Process Paper

Decision Making Process Paper

Amy Lawrence

XMGT/230

04/05/15

Tia Sheppard

Decision Making Process Paper

The decision that has made the biggest impact on my life as well as my families was when we decided to purchase an older home for remodel in my spouses’ hometown. There is a big risk that accompanies the much smaller price tag of an older home. There are inspections that may not pass, possible costs that cannot be foreseen, and higher upgrade cost in the long run than a newer home.

 My husband had just separated from the Air Force and we knew we wanted to raise our children around their grandparents. This area has a pretty high cost of living and without definite employment opportunity for us our budget grew smaller quickly. The pros of this purchase is the area was exactly where we wanted, price was easy to pay off quickly, and the finished product would be exactly what we wanted even if that meant spending more over time.

I knew for sure that we needed to be settled after six years of living in various cities and types of base housing. I gathered all our financial information as well as several quotes from home builders to assist with the areas of remodel we could not do for ourselves. The decision to go ahead was made and we approached a local lender with successful results of enough to do basic remodel like aerobic system install, new metal roof, and new wiring installed throughout the house all with affordable payment and low interest rate. During this time we looked at dozens of other home for sale, lease and rent just in case there needed to be an alternative choice.

The plan we wrote and started 6 years ago is now a true success story. The house is paid off and we have turned a two bedroom, one bath home into a four bedroom two bath with wrap around porch. This home is located close to the local public school and down the road from my spouses’ father. Although, there were so many “what ifs” and many alternatives to this choice, I know we implemented the right decision and our high risk has paid us back many times over as our property and home appreciates in a popular community. Good schools and great neighbors all around us was the perfect decision for our home.