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The ABCs of HOUSING VOCABULARY
Apartment Guide BOOKS TO LOOK IN FOR AN APARTMENT
APPRECIATE TO GO UP IN VALUE
BUY TO PURCHASE
CABLE READY WIRED FOR CABLE TV
CAREFULLY READ THE LEASE
CONDOMINIUM IT MAY LOOK LIKE AN APARTMENT, BUT YOU BUY IT
CREDIT CHECK A CHECK ON YOU TO SEE IF YOU PAY YOUR BILLS ON TIME
DUPLEX TWO APARTMENTS/CONDOS ATTACTED TO EACH OTHER
EFFICIENCY/STUDIO ONE ROOM APARTMENT
EVICT TO LEGALLY FORCE YOU TO LEAVE
FLOOR PLAN ARRANGEMENT OF ROOMS
HIGH RISE A BUILDING MANY STORIES TALL
INSPECT TO LOOK OVER VERY CAREFULLY BEFORE YOU RENT OR BUY
INTERNET YOU CAN USE THE COMPUTER TO FIND A HOUSE OR APARTMENT
LANDLORD OWNER OF THE BUILDING
LATE FEE CHARGED IF RENT IS LATE
LENGTH OF LEASE HOW LONG YOU CAN STAY IN THE APARTMENT
LEASE LEGALLY BINDING DOCUMENT FOR AN APARTMENT STATES RENT, LENGTH OF TIME & CONDITIONS
LOCATION LOCATION, LOCATION, LOCATION 3 MOST IMPORTANT RULES WHEN BUYING A HOUSE
MAINTENANCE UPKEEP ON PROPERTY CUTTING GRASS, SHOVELING SNOW
MANAGER TAKES CARE OF BUILDING
MORTGAGE A LARGE AMOUNT OF MONEY YOU BORROW TO BUY A HOUSE YOU REPAY IT EACH MONTH, OFTEN FOR 30 YEARS
PETS USUALLY NOT ALLOWED IN APARTMENTS
PREMISES LAND OR BUILDING
REAL ESTATE SECTION SECTION OF THE NEWSPAPER TO LOOK FOR APARTMENTS OR HOUSES
REMODEL CAN CHANGE THINGS IN A HOUSE TO SUIT YOURSELF
RENT MONEY YOU PAY TO LIVE SOMEWHERE
RENTERS INSURANCE INSURANCE FOR THINGS IN YOUR APARTMENT JEWELERY, COMPUTER…
SECURITY DEPOSIT MONEY HELD IN CASE YOU DAMAGE THE APARTMENT RETURNED IF NO DAMAGE
SUBLET TO RENT YOUR APARTMENT TO SOMEONE ELSE FOR THE REST OF YOUR LEASE USUALLY NOT ALLOWED
TOWNHOUSE APARTMENTS OR HOUSES CONNECTED TO EACH OTHER
UTILITIES WATER, GAS, ELECTRICITY USUALLY NOT INCLUDED IN RENT
WAIVER SIGN AWAY YOUR RIGHTS
Chapter 13 Housing: A Place To Call Home. DORM Building with rooms that colleges rent to students at reasonable prices, usually in large complexes.
Renting vs. Buying Housing. Rental Terminology Landlord Owner of property –Expects rent to be paid on time and for tenant to keep the property in reasonable.
Renting CMAGNO. Did You Know? 1/3 of all people in the U.S. rent Who are these people? – Majority are: singles, young couples, and senior people – Many.
OBJECTIVE 2.02 ANALYZE FINANCIAL AND LEGAL ASPECTS OF RENTING.
2.02 Financial and Legal Aspects of Renting. Landlord Owner of the Property Expects the following from tenant: –Rent to be paid on time –Keep the property.
Your First Apartment On one half of a piece of paper make a list of everything you would want in an apartment…. cost is NOT a factor. Look through.
Renting vs. Owning Economics2015. Housing is the largest personal expenditure (About 1/3 of a person’s income.) Choosing where to live is based upon.
RENTING VS. OWNING FAMILY ECONOMICS AND FINANCIAL EDUCATION TAKE CHARGE OF YOUR FINANCES.
Your First Apartment On one side of a piece of paper make a list of everything you would want in an apartment…. cost is NOT a factor, but you may not.
Renting vs. Owning The Difference Between Renting and Owning a Home.
Renting vs. Owning Family Economics and Financial Education Take Charge of your Finances.
Housing Legal and Financial Decisions.. Lease Lease – Legal document between the owner of the property and the person wishing to occupy the property.
Renting Versus Buying. Does renting or buying have less responsibility for maintenance and upkeep?
Your First Apartment Make a list of everything you would want in an apartment…. cost is NOT a factor. Look online to find an apartment that closely.
Housing The bare basics you need to know.. Vocabulary Lease Mortgage Down-payment Property tax Home Owners Insurance.
Renting vs. Owning G1 © Family Economics & Financial Education – Revised March 2009 – Housing Unit – Renting vs. Owning a Home Funded by a grant.
LIVING ON YOUR OWN. ADVANTAGES/DISADVANTAGES OF STAYING AT HOME AFTER HIGH SCHOOL.
General Info Types of Houses Legal Terms Costs of Renting Costs of Buying
UNIT 7: CONSUMER SKILLS Section 4: Buying a House.
Renting a Place to Live Unit 6: Major Purchases. Three Times To Rent College Temporarily Living There ▫Military ▫Study Abroad Saving Up for a Down Payment.
FINANCIAL & LEGAL ASPECTS OF RENTING Objective 2.02.
Rent vs. Buy The Finances of Housing and Real Estate.
Renting a Residence Section 6-5. Selecting a Rental Unit A person who rents is called a tenant. The person who rents the place to you is called a.
3/4/14 “Identity Theft” What are 2 things you can do to prevent identity theft? What are 2 ways to tell that your identity has been stolen? What are 2.
Renting an Apartment What you need to know before you rent your first place!
H OUSING Housing options. H OUSING OPTIONS What should you consider when you evaluate available housing alternatives? Your lifestyle and finances What.
Do Now: Housing *Answer all questions in complete sentences unless otherwise specified. Please number your responses in your notebook. 1. Is it better.
Chapter 70 HOUSING AND THE CONSUMER. Single-family home – provides living space for one family. It is not usually connected to any other building and.
Housing and Interior Design Unit 1 Housing Needs and Decisions.
Employability--Chapter 29 Mrs. Sorrell. At home? With a roommate? On your own?
Renting a Residence. Housing Alternatives You will soon have to make a choice about where to live. You may choose to get a job, live at home with your.
© Family Economics & Financial Education – November 2005 – Housing Unit – Securing a Living Space Funded by a grant from Take Charge America, Inc. to the.
BUYING VS RENTING. BUYING Homeowner Advantages Freedom of use Pride of ownership Greater Privacy Income tax benefits Opportunity to build credit.
What’s on an Apartment Lease From Rocketlawyer.com.
Housing Deciding between Renting and Owning a House.
moving-in costs can include: ■ Rent for first month ■ Rent for last month ■ Security deposit ■ Utilities deposit ■ Telephone deposit.
Average American Family spends ¼ of income on home 60% of housing units are owned by the people living on them.
Lease-a rental agreement Specifies the amount of rent to be paid and the length of time for which the dwelling may be rented. States the rights and duties.
‘Trade-Offs’ Interest › Lost with a down payment/security deposit Commuting › Driving to work daily › Time vs Cost Time & Money › Lower/older.
© Oklahoma State Department of Education. All rights reserved.1 Housing Alternatives Standard Renting vs. Buying.
Financial Literacy Skills Unit 5: Understanding Investing and Home Ownership.
+ Terms Renters Should Know Independent Living. + Renting Renting an apartment is one of the major adult decisions you’ll make. Signing a rental agreement.
Renting. Types of housing available Studio Apartment Condominium Single family home Town house Duplex Mobile home Rented room in house Cooperative apartment.
How does your lifestyle affect your choice of housing? Finances play an important role in housing decisions. One major factor you will need to consider.
1.9.3.G1 © Family Economics & Financial Education – Revised March 2009 – Housing Unit – Renting vs. Owning a Home Funded by a grant from Take Charge America,
HOUSING: TO RENT OR BUY? RENTING AN APARTMENT 1. LEASE- the contract created by the property owner stating rules and expectations of the renter for the.
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