Real Estate Basics
The person who helps you buy or sell a house.
What is a real estate agent?
A stand-alone house not connected to others.
What is a single-family home?
You look at this to see how much homes are selling for.
What is the listing price?
A house costs $200,000 and you pay 10% down. How much is the down payment?
What is $20,000?
This public service helps keep the community safe.
What is the police department?
The legal document that shows who owns a house.
What is a deed?
A home that shares one wall with another unit.
What is a townhouse?
This word describes the area where the home is located.
What is the neighborhood?
If rent is $1,000 per month, how much is that in a year?
What is $12,000?
You go here to borrow books and use the internet.
What is the library?
This is the money you pay every month to live in a house you don't own.
What is rent?
A home you own in a building with shared spaces.
What is a condo?
This person inspects the home before you buy it.
What is a home inspector?
A 2,000 sq ft house at $150 per sq ft costs this much.
What is $300,000?
Before buying, families often check this about nearby schools.
What are school ratings?
The amount of money you borrow to buy a house.
What is a mortgage.
A temporary or mobile living structure, often on wheels.
What is a mobile home?
You often need to get this from a bank before buying.
What is a loan pre-approval?
Property taxes are $3,600 per year. What is the monthly cost?
What is $300?
This term describes how easy it is to walk to stores, parks, etc.
What is walkability?
The total value of a home minus what is still owed on it.
What is equity?
A building split into separate rental units.
What is an apartment building?
A meeting where the home is officially transferred to the new owner.
What is closing?
You pay $1,200 in rent and $100 in utilities. What’s the total monthly cost?
What is $1,300?
These shared spaces can include parks, pools, and gyms.
What are community amenities?