House
A house is also known as ...
living space
shelter
building
One benefit to living in a townhome is
rent or own
no lawn care
no shoveling
Do you rent or own an apartment?
Rent
What is a dorm?
A room you live in on a school campus. You must attend the school to live in the dorm.
Renting means...
You are living in a space for the duration of your lease (6 months, 1 year, 2 years, etc)
A house usually has...
bedrooms
kitchen
bathroom
livingroom
One downside to living in a townhome is...
You can't make changes to the outside like painting or adding a garden
limited yard space
no private yard
close to neighbors
Who is responsible for fixing things in your apartment?
The landlord
Who lives in a dorm?
Homeownership means
You own property and the land it is on. You are responsible for repairs, bills and property taxes.
The name of the loan for a house is called...
a mortgage
The fee you pay for lawn care is called...
An association fee
What is the benefit to renting?
You don't have to pay for repairs
You are not responsible for lawn care
You can move when your lease is up
What is the benefit of living in a dorm?
You are close to your classes
Lots of people your age to make friends with
You are part of a community
A benefit of renting?
You can move somewhere else at the end of the lease
Fewer responsibilities
A homeowner is responsible for...
repairs
lawn care
shoveling
paying all of the bills
How many families live in one townhome?
Usually, just one
What is a lease?
The agreement you sign to rent an apartment. It states how much your rent. You sign a lease every year.
What is the downside of dorm living?
Noise
Community bathroom and kitchen
A benefit of homeownership?
It's a great way to build wealth
Who helps you find and purchase a house?
A realtor
Who helps you sell a townhome
A relator
What is eviction?
The forcible act of being removed from your apartment. This is very bad!
Who pays for repairs in a dorm?
You do!
Why is your credit score important?
Your credit score will determine how much you pay to rent or own a home. People will low/bad credit have to pay more. If you have good credit you pay less!