OBJECTIVES 8-1 FIND A PLACE TO LIVE

Slides:

Advertisements

Similar presentations

A Move to the City 6th Period English April 8, 2013.

Advertisements

Family Economics and Financial Education Take Charge of your Finances

Ch. 8: Independent Living

Chapter © 2010 South-Western, Cengage Learning Renting a Residence Housing Choices The Renting Process 21.

Money Management Key Terms.

Banking Complete form 1040EZ. Complete form 1040A.

Earning Money  What is income and what are 3 possible sources?  Income is money that you have available to you to spend  3 sources: babysitting,

Ms. Wagemaker Coginchaug Regional High School Personal Finance Jeopardy Getting a Job Your Paycheck Your Budget Your Banking

The Difference Between Renting and Owning a Home

Consumer Mathematics Living on your Own. the costs of moving moving-in costs can include: Rent for first month Rent for last month Cleaning deposit Security.

Renting vs. Owning The Difference Between Renting and Owning a Home.

LEASES 3.4. GENERAL LEASE  A lease is a contract that allows for one party to use the property of another party, for an extended period of time.  The.

Financial Algebra © Cengage/South-Western Slide RENTALS, CONDOMINIUMS, AND COOPERATIVES Compute costs of purchasing a cooperative or a condominium.

6-5 SOCIAL SECURITY AND MEDICARE

 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.

Financial Algebra © Cengage/South-Western Slide MORTGAGE APPLICATION PROCESS Compute the monthly cost of paying for a house. Understand the research.

Y OU ’ RE O UTTA H ERE ! F INDING THE RIGHT LIVING SPACE FOR YOU.

Buying your first home is exciting, especially when you find a good deal on it, but a lot of people don’t realize that by the time they pay it off, they’ve.

OBJECTIVE 2.02 ANALYZE FINANCIAL AND LEGAL ASPECTS OF RENTING.

4-3 LOAN CALCULATIONS AND REGRESSION

Financial Algebra © 2011 Cengage Learning. All Rights Reserved. Slide EXPLORE COMPOUND INTEREST Understand the concept of getting interest on your.

Calculate the affordability of a monthly rent. Determine the relationship between square footage and monthly rent. Determine lease signing costs. Calculate.

Financial Algebra © Cengage/South-Western Slide 1 INDEPENDENT LIVING 8-1Find a Place to Live 8-2Read a Floor Plan 8-3Mortgage Application Process 8-4Purchase.

Renting vs. Owning The Difference Between Renting and Owning a Home.

Renting vs. Owning Family Economics and Financial Education Take Charge of your Finances.

Lease Security deposit Landlord Tenant Front-end-ratio Back-end-ratio Condominium Co-op Escrow Recurring /Non-recurring costs Vocabulary to Know!!!! Amortization.

#1. Calculating Gross Income Dan works part time at Shopko Dan worked 32 hours this week Dan makes $9.75/hour How much was Dan’s Gross Income?

Home buying Case Study By Arthur Espinoza.

RENTING VS. OWNING FAMILY ECONOMICS AND FINANCIAL EDUCATION TAKE CHARGE OF YOUR FINANCES.

© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 12 SLIDE Financial Planning Financial Records.

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.

MAJOR EXPENDITURES: HOUSING, TRANSPORTATION AND FOOD Advanced Level.

© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 12 SLIDE 1 Financial Planning Financial Records and Financial Statements.

Rent vs. Buy The Finances of Housing and Real Estate.

THE GOOD NEWS ABOUT BUYING A HOME National Association of Realtors® Lorain County Association of REALTORS® April 10, 2008 Lorain County Community College.

 Security deposit – a refundable amount a renter pays in advance to protect the owner against damage or nonpayment.  Mortgage – a loan to purchase real.

© Oklahoma State Department of Education. All rights reserved.1 Housing Alternatives Standard Renting vs. Buying.

Housing Considerations

Finding a Job Budgeting & Saving Finding an ApartmentBuying a Car Buying a Home Education & Advance ment

Employability--Chapter 29 Mrs. Sorrell.  At home?  With a roommate?  On your own?

4-3 LOAN CALCULATIONS AND REGRESSION

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.

House Hunting Finding your own place is exciting, but it is also a big responsibility. What are some costs associated with renting or buying a home?

Renting vs. Owning G1 © Family Economics & Financial Education – Revised March 2009 – Housing Unit – Renting vs. Owning a Home Funded by a grant.

Real Estate Principles and Practices Chapter 21 Real Estate Math © 2009 by South-Western, Cengage Learning.

Renting or Buying Housing Chapter Choosing Housing Two important factors: Income and Location Income: ▫The housing you can afford depends on your.

Choosing your home.   Housing meets physical needs by giving shelter and a place for belonging and personal activities.  Housing meets emotional needs.

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.

Budget: a plan for managing income and expenses Expenses: Money that is required to be paid once a month Fixed Expenses: expenses which usually do not.

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.

CHAPTER 8 Marina Makhover. 2 Chapter Objectives To determine the costs related to owning or renting your own house or apartment. To design monthly budgets.

Money Trek Project Module 6: Renting & Buying a House

MYPF 12.1 Housing Choices 12.2 The Renting Process

Family Economics and Financial Education Take Charge of your Finances

Family Economics and Financial Education Take Charge of your Finances

MYPF 12.1 Housing Choices 12.2 The Renting Process

Where will you live? Where will you be living in a few years?

8 INDEPENDENT LIVING 8-1 Find a Place to Live 8-2 Read a Floor Plan

House Hunting Finding your own place is exciting, but it is also a big responsibility. What are some costs associated with renting or buying a home?

Objective 2.02 ANALYZE financial and legal aspects of renting.

The Difference Between Renting and Owning a Home

Family Economics and Financial Education Take Charge of your Finances

8 INDEPENDENT LIVING 8-1 Find a Place to Live 8-2 Read a Floor Plan

Family Economics and Financial Education Take Charge of your Finances

Family Economics and Financial Education Take Charge of your Finances

Lesson 21.1 Housing Decisions

Family Economics and Financial Education Take Charge of your Finances

OBJECTIVES 8-1 FIND A PLACE TO LIVE

MYPF 12.1 Housing Choices 12.2 The Renting Process

Presentation transcript:

OBJECTIVES 8-1 FIND A PLACE TO LIVE Banking 3/31/2017 8-1 FIND A PLACE TO LIVE OBJECTIVES Calculate the affordability of a monthly rent. Determine the relationship between square footage and monthly rent. Determine lease signing costs. Calculate moving expenses. Chapter 1

Key Terms apartment tenant landlord furnished unfurnished lease expire evict single-family home multiple-family home condominium (condo) cooperative (co-op) square footage application deposit security deposit

Example 1 Bethany’s monthly gross income is $3,840. She pays 24% of her monthly gross earnings in federal and state taxes and 15% for her student loan. Bethany uses 15% of her monthly gross income to pay toward her credit card balance. She wants to rent an apartment that will cost $1,800 per month. Will she be able to make the payments without changing the amounts she pays toward her student loans and credit card balances?

EXAMPLE 2 Rufus and Maria have both been offered new jobs in a different city. A real estate broker sent them a listing of apartments in their desired location showing the square footage in each apartment. Use linear regression analysis to determine if there is a correlation between the square footage of rental property and the amount charged for the monthly rent. - What is the linear regression equation? - Interpret the correlation coefficient. - What is a good estimate for the amount of monthly rent charged for an 880-square foot apartment?

EXAMPLE 3 Rufus and Maria paid a $200 application deposit for the 1,150- square foot apartment in Example 2. They are required to provide a credit report that costs $25 and pay a security deposit equal to one month’s rent. The landlord also requires the last month’s rent at the time of signing the lease. The broker charged 10% of the yearly rent. How much should they expect to pay to be able to move into the apartment?

Example 4 Jay is moving from an apartment in Miami to one in Orlando. If Jay moves on a weekday, he will need more movers’ time to pack, load, unload, and unpack because his friends will not be able to help him. If he moves on a weekend, he can get his friends to help, cutting down on the number of hours he will need to hire movers. MoveOut is a moving company that supplies movers, trucks, and moving equipment. They have given him the following moving estimates. Weekday Move Weekend Move 6 hours of loading/unloading 4 hours of loading/unloading 5 hours of packing/unpacking 2 hours of packing/unpacking $720 total cost $400 total cost MoveOut charges a set hourly moving team rate for loading and unloading, and a different set hourly moving team rate for packing and unpacking. Determine the MoveOut hourly rates.