1. Housing & Transportation
Equations and Guidelines

2. Housing and Transportation
You are going to find a house/apartment and car for your budget.
I will show you the equations to find the minimum and maximum range for your house and car.
Note: Married couples must find 2 cars. Min 10% and Max 20%
When you find your house and car(s) you must print out the website your found the listing on.
ONLY PRINT THE FIRST PAGE WITH THE PICTURE, INFO, and COST!

3. Housing
If you’re renting, you can have a roommate IF you are both single and without children.
Buying a House
You want to buy a $750,000 home.
$750,000 (home price) - $50,000 (down payment) = $700,000
$700,000 ÷ 360 (months) = $1,
You monthly mortgage payment is about $1,940.

4. Housing Equation: (Min/Max x 360) + $50,000
Minimum
Maximum
Example
$920 x 360 = $331,200
$331,200 + $50,000 =
$381,200
$1,200 x 360 = $432,000
$432,000 + $50,000 =
$482,000

5. Transportation All married couples need 2 cars. (no motorcycles)
Buying a Car
You want to buy a $25,000 car.
$25,000 (car price) – 20% (down payment) = $5,000
$25,000 x .2 = $5,000
$25,000 (car price) –$5,000 (down payment) = $20,000
New Car: $20,000 / 60 = $ per month
Used Car: $20,000 / 36 = $ per month

6. Transportation Equation: (Min/Max x 60) x 1.25
Minimum
Maximum
New
$230 x 60 = $13,800
$13,800 x 1.25 = $17,250
$460 x 60 = $27,600
$27,600 x 1.25 = $34,500
Used
$460 x 36 = $16,560
$16,560 x 1.25 = $20,700
$690 x 36 = $24,840
$24,840 x 1.25 = $31,050

7. Research Sites Housing: Zillow, RedFin, Trulia
Cars: CarMax, Dealerships
Plug in your min/max into the equations.
Find a house/car within your range.

8. Work Time Your checklist for the day (in this order)
Complete your Handout, put it in the turn in bin
Continue to work on your presentation materials
Work on your project