want to creat a assignment Purpose

In this assignment you will go through the process of purchasing a home. Although this assignment engages you in an imagined or simulated scenario, it is designed to help walk you through the real-world process of obtaining home ownership so that you both are aware of the steps, as well as understand the process from a personal and financial perspective.

Step 1

I want you to imagine you are purchasing your first home or your ideal home. You can imagine a scenario whereby you are a single graduate from Centennial College or a couple with a family. It is up to you to imagine the scenario that fits best for you. Use your imagination and do not be impeded by your present financial situation. You can imagine yourself in any situation you want. For example, you could pretend you are a successful financial advisor with a spouse and two children who has been very successful and has a very high income. Once again it is up to you.

For this step youll need to identify your home-life situation (for example, are you in a relationship, do you have children, other dependents, etc.), as well as your income. You should also identify the type of home and cost range for your desired home.

Step 2

The most important aspect of the assignment is for you to demonstrate a thorough understanding of the home buying process. The steps in the process are as follows:

Determining Your Ownership Needs

Finding and Evaluating a Property to Purchase

Pricing the Property

Obtaining Financing

Closing the Purchase Transaction

You must identify the key factors of each step and provide information as to how, in your imagined scenario, you would approach each step.