buying vs. renting your first place adult living your first place adult living
TRANSCRIPT
Buying Vs. RentingBuying Vs. Renting
Your First PlaceAdult Living
Your First PlaceAdult Living
ObjectivesObjectives After studying this unit you will be able to:
Describe how housing meets people’s needs Identify different types of housing Identify various factors that influence housing
choices Learn the various kinds of housing and their
advantages and disadvantages Identify Pros and Cons of renting and owning
housing Use technology to access, research, manage,
integrate, and create information as well as generate and solve real world problems using mathematical concepts.
After studying this unit you will be able to: Describe how housing meets people’s needs Identify different types of housing Identify various factors that influence housing
choices Learn the various kinds of housing and their
advantages and disadvantages Identify Pros and Cons of renting and owning
housing Use technology to access, research, manage,
integrate, and create information as well as generate and solve real world problems using mathematical concepts.
Housing OptionsHousing Options
What is the first thing that comes to mind when you hear the word “Housing?” Two-story house? High-rise apartment? Townhouse? Chances are the first thing that comes
to your mind is the home in which you live in right now.
What is the first thing that comes to mind when you hear the word “Housing?” Two-story house? High-rise apartment? Townhouse? Chances are the first thing that comes
to your mind is the home in which you live in right now.
Functions of HousingFunctions of Housing Physical Needs
Shelter Protection Safety
Emotional Needs Personal and Private space (relaxing) Self-expression (decorating)
Social Needs Interaction with others
Gathering place for family and others
Physical Needs Shelter Protection Safety
Emotional Needs Personal and Private space (relaxing) Self-expression (decorating)
Social Needs Interaction with others
Gathering place for family and others
Out on your ownOut on your own
As you continue on your own, the housing that suits you best might be quite different from the house that you live in now.
Think of all of the different types of housing. Make a list.
As you continue on your own, the housing that suits you best might be quite different from the house that you live in now.
Think of all of the different types of housing. Make a list.
Single-Family HomesSingle-Family Homes
Come in all sizes and styles
May be built on large or small lots of land
Located in different types of neighborhoods
Come in all sizes and styles
May be built on large or small lots of land
Located in different types of neighborhoods
Single-Family HomesSingle-Family Homes
Multiple-Family HomesMultiple-Family Homes
Apartments Duplexes Townhouses
Apartments Duplexes Townhouses
ApartmentsApartments
Variety of sizes and styles
High-rise building Smaller buildings
with only a few units
Huge complexes
Location varies as well
Variety of sizes and styles
High-rise building Smaller buildings
with only a few units
Huge complexes
Location varies as well
ApartmentApartment
Town House and Duplexes
Town House and Duplexes
Housing Units in which at least two units are attached
Share a common wall Townhouses often come in clusters
of 4-8 units in one structure Duplexes are only 2
Housing Units in which at least two units are attached
Share a common wall Townhouses often come in clusters
of 4-8 units in one structure Duplexes are only 2
TownHouseTownHouse
DuplexDuplex
Mobile/Modular HomesMobile/Modular Homes
Most “mobile” homes today are actually not mobile Most are set on some type of
foundation Usually they are set in a mobile-home
park and never moved Generally quite spacious Offer a low price option for someone
who wants to own a home
Most “mobile” homes today are actually not mobile Most are set on some type of
foundation Usually they are set in a mobile-home
park and never moved Generally quite spacious Offer a low price option for someone
who wants to own a home
Mobile/Modular HomesMobile/Modular Homes
Rent or BuyRent or Buy
Most of these different types of homes can be owned or rented
Single-Family Homes Own
Responsible for all maintenance and yard care
Mobile Homes in a Park Own the home but rent the land or lot it
is on
Most of these different types of homes can be owned or rented
Single-Family Homes Own
Responsible for all maintenance and yard care
Mobile Homes in a Park Own the home but rent the land or lot it
is on
Take a look at your housing needs
Take a look at your housing needs
How many bedrooms do you need? How many bathrooms do you need? Special purpose rooms desired?
Recreation/TVOffice/StudySewing/Crafts/Hobby RoomHow much storage space/closet space do you need?
How many bedrooms do you need? How many bathrooms do you need? Special purpose rooms desired?
Recreation/TVOffice/StudySewing/Crafts/Hobby RoomHow much storage space/closet space do you need?
Take a look at your housing needs
Take a look at your housing needs
Do you needA garage/carport?Parking Space?Room for pets?Space for garden?Room for play/children?Other outdoor space
Do you needA garage/carport?Parking Space?Room for pets?Space for garden?Room for play/children?Other outdoor space
Take a look at your housing needs
Take a look at your housing needs
Life-style Do you have pets? Do you want recreational facilities nearby
Pool, tennis courts
Do you like to take care of a yard, garden, etc?
Do you like to fix things, paint, etc? Do you want to be able to fix up a place
to suit your own style?
Life-style Do you have pets? Do you want recreational facilities nearby
Pool, tennis courts
Do you like to take care of a yard, garden, etc?
Do you like to fix things, paint, etc? Do you want to be able to fix up a place
to suit your own style?
What type of housing suits you?
What type of housing suits you?
Single family houseApartmentMobile HomeTown House or Duplex
Single family houseApartmentMobile HomeTown House or Duplex
What are some factors that you need to consider
in your selection of a place to live?
What are some factors that you need to consider
in your selection of a place to live?
Length of time you will live there
Future housing needs Parents, children
Distance to work Medical facilities Places of worship
Construction of housing Access to
schools/daycare
Length of time you will live there
Future housing needs Parents, children
Distance to work Medical facilities Places of worship
Construction of housing Access to
schools/daycare
Location Neighborhood, city
Fire and Police Protection
Shopping & Recreational facilities
City Services New/older home
Location Neighborhood, city
Fire and Police Protection
Shopping & Recreational facilities
City Services New/older home
Pros and Cons of RentingPros and Cons of Renting
Pros Starting out on your own
as a young, single adult No responsibility for
repairs, maintenance Recreational facilities Laundry facilities More mobility or
flexibility Does not require large
sum of money for down payment / property taxes
Pros Starting out on your own
as a young, single adult No responsibility for
repairs, maintenance Recreational facilities Laundry facilities More mobility or
flexibility Does not require large
sum of money for down payment / property taxes
Cons Lack of control of
the property Property owners can
raise rent Restrictions
Pets children redecorating
Cons Lack of control of
the property Property owners can
raise rent Restrictions
Pets children redecorating
Pros and Cons of BuyingPros and Cons of Buying
Advantages Pride of ownership Freedom to
decorate, landscape Independence Financial advantages Equity Tax deduction for
mortgage Interest and property
tax deductions
Advantages Pride of ownership Freedom to
decorate, landscape Independence Financial advantages Equity Tax deduction for
mortgage Interest and property
tax deductions
Cons Time consuming
and expensive home repairs
Costs Down Payment Loan cost
Cons Time consuming
and expensive home repairs
Costs Down Payment Loan cost
ReviewReview
How can changes during a family’s life cycle affect their housing needs, wants and priorities?
What are three types of housing? What are advantages of renting a
home? Buying a home? How does a home met needs?
How can changes during a family’s life cycle affect their housing needs, wants and priorities?
What are three types of housing? What are advantages of renting a
home? Buying a home? How does a home met needs?
Your First PlaceYour First Place
Apartment You will be given a
budget of $2000 You have four rooms
Bedroom Living Room Kitchen (stove and
refrigerator are furnished)
Bathroom On your poster board
you will paste your furnishing in the rooms
Apartment You will be given a
budget of $2000 You have four rooms
Bedroom Living Room Kitchen (stove and
refrigerator are furnished)
Bathroom On your poster board
you will paste your furnishing in the rooms
On your poster board you will paste your furnishing in the rooms Make sure to include
the prices you paid
Determine the cost of each room Develop a circle graph
showing the percentage of the budget used to furnish each of the rooms
On your poster board you will paste your furnishing in the rooms Make sure to include
the prices you paid
Determine the cost of each room Develop a circle graph
showing the percentage of the budget used to furnish each of the rooms
Some Suggestions:Some Suggestions:
www.walmart.com www.target.com www.ikea.com www.biglots.com
www.walmart.com www.target.com www.ikea.com www.biglots.com