Response to the review
After graduating from college, one has to make the unsurpassed decisions that will make them to effectively and efficiently subsist in the highly challenging life. These decisions range from investment decisions, marriage decisions, residence and where to work. In this case, after graduating from Utah university, the individual is in a dilemma a on the best decision to take.
I found it necessary to cover details of Salt Lake Valley as this would provide clear information regarding the background of the individual and the conditions that are likely to confront a 22 year old teenager. Additionally, this kind of information will provide a true insight onto the realities surrounding the case in example. With the adequate information, it will be very easy for anyone to comprehensively understand the scenario. I believe it would have been inadequate if I had only stated a few facts such as the housing options facing this new graduate and the character wants to live near Utah University, their place of work.
In my work, I extensively and exclusively pinpointed the advantages and disadvantages of each housing option to indicate the weight of the decision that the individual has to make. In the paper, I mentioned that I make $9.45/hr., but in the graph, it is listed as $9.00 under rate. The $0.45 difference is particularly meant to cover for the hours that I might not work in a day. There are many activities that have to go on as well. For instance, I might have to be out of the workplace to see an important friend, out for some rest or failure in machines that might disrupt workflow (Sease, Douglas & John, 92). All these risks had to be outfitted by making such an allowance.
As my parents grow older, they occasionally have difficulty dealing and struggling with their everyday financial obligations. This is a situation that makes my 20% of my income need to go to my parent. I find it to be need and prerequisite to step in and help my parents. However, my parents have difficulties with some areas that I checked and they include their income which is below average, will, long-term care, expenses, and Medicare and community services.
In the second case, the $2,500 is an approximate amount that will have to be remitted to the landlord as monthly rent. Multiplying $2,500 by the 12months that makes a year, the figure rises to $30,000. The assumption is that the rent is fixed and will not be subjected to any changes in the foreseeable future. Additionally, time value of money (TVM) has been ignored though in reality the value of money changes with time (Sease, Douglas & John, 102). This was deliberately done to simplify the computation process.
The Housing Authority of Salt Lake City has an objective that ensures their test of progress is not whether they add more to the abundance of those who have much but is to whether they provide enough for those who have little. However, there are houses in uptown of Salt Lake City that are expensive and all the best lifestyle is present (Barr, 67). Good infrastructure, security easy accessible as well as nearness to the offices that I am working with. Therefore, the figure of the rent of $2,500 I find it fit to cater all that. It is clear that in downtown there are cheap houses but in my calculation, if I add all the expenses of the day that is bus fare and lunch they amount to the same figure with that of the rent in uptown.
My move back to my parents’ house might be due to circumstances and situations that I found myself in. in my parents’ house life is different with that of being alone. For instance, in the house one live with tight budget therefore saving money (Barr, 86). However, renting by yourself and stay single makes one to have privacy or their space where they have freedom over their lives. One becomes bright in decision making since there is no one to guide unlike in the parents’ house where there is clash of opinions. In staying single, I learned the hard lessons of life that sharpened my life and became my stepping stones. There are a lot of hard lessons as well as curve balls that life throws every now en then. And living as a couple, this could shield some of the hardships of life (Barr, 37).
Living wage for married couples is much more generous. It is currently at $14.00/hr implying that our combined hourly income will be $28.00 (Amy, 01). However, the living cost for couples is a bit higher and we may not be in a position to accumulate enough mortgages to secure an impressive house in the Salt Lake Valley (Goodwin et al., 62). Much of the income will have to go into other more pressing needs and we may therefore resort to simply renting a house though it is clear that its overall cost will ultimately be massive.
However, staying single implies less income and fewer expenses. Additionally, the job is a short term job that might end in the adjacent future. In this case, it becomes excessively tricky to move in with my fiancé since my source of income might be terminated any time soon. Outrageously, it might be terminated before we accumulate enough mortgages to buy a house in Salt Lake Valley where the low-priced house goes for $230,000. Unfortunately, considering the limited number of pages that were required for the task, I could not meritoriously describe the characteristics of the different houses available in Salt Lake Valley. However, I such elucidations shall not be omitted in my future papers if they will be needed. Being alone means one is responsible of everything. However, I find it easy barring any financial hurdles than when I was alone. I find it easy for unwed couples to apply for loans as well as mortgages that could help us buy our own house instead of renting houses. With a high annual increase in population, the demand for owner-occupied as well as rented housing also rises. Though, the difference between housing supply and demand has also increased significantly over decade.
Finally, I’m grateful for your gratitude and I promise that in future, I will deliver better papers that will display a proper mastery of the predominant issues. Moreover, I will expansively consult Professor Yu’s sources and cite effectively to make my paper even better. I will improve my English even further to improve the quality of my argumentations. My intention is to produce quality papers that will be appealing to any reader. I’m really grateful for reviewing my work and pinpointing the various weaknesses as well as strengths.
Amy K. Glasmeier. "Living Wage Calculator-Living Wage Calculation for Salt Lake County, Utah." Living Wage Calculator - Introduction to the Living Wage Calculator. N.p., 2014. Web. 15 Feb. 2014. Retrieved from http://livingwage.mit.edu/counties/49035
Barr, A W. C. Public Authority Housing. London: Batsford, 2008. Print.
Goodwin, Neva R, Frank Ackerman, and David Kiron. The Consumer Society. Washington, D.C: Island Press, 2007. Print.
Sease, Douglas, and John A. Prestbo. Barron's Guide to Making Investment Decisions. Englewood Cliffs, NJ: Prentice Hall, 2004. Print.