Where Will You Live

Where Will You Live?

Choosing a place to live is one of the most important decisions people make. It should be made carefully and with as much information as available. ______, ______, ______, and ______ should all be honestly identified.

Personal factors such as ______, ______ must be considered when making the choice of where to live.

The options, in terms of both location and type of housing, should be examined carefully. It is wise to invest some time, energy and thought before choosing a place to call home.

URBAN vs. RURAL vs. SUBURBAN

______: more people, closer to food choices, entertainment, cultural activities, employment, public transportation, libraries, museums, etc.

______: country, quiet, open spaces, less industry, less pollution, fewer people

______: residential area adjacent to a city, bedroom community, best of both worlds

1. ______ impacts the cost of housing and the appeal of housing.

· Housing is more expensive on

· Housing is more expensive within and

· Housing is more expensive within downtown areas and sections under development.

· Housing is more expensive for

· Rural housing is usually the least expensive choice.

· These rules are usually true, but

2. Convenience: location to employment; are basic services easily accessed like: ______?

3. Assess the condition of the area. Check out the state of repair of ______in the community. Is ______available? Look at the state of repair of the homes in the area. Listen and assess the ______at different times of day in the area too.

4. ______: is electricity, water/sewer, telephone, natural gas? Is there ______? Who pays for these services and utilities? Are there ______services available? Where is the nearest hospital?

5. ______: Assess the schools for P.T.S.A. involvement; student-teacher ratio, state test scores and graduation rates. Recreational facilities should be evaluated as well. Are there parks, greenbelts, libraries, shopping centers, cultural activities nearby?

*When choosing an apartment/townhouse/condominium consider if these things are offered:

· clubhouse/meeting room

· handicapped access

· covered parking

· balconies

· paid utilities

· Ask if ______and ______are allowed!!!

6. Taxes – home ownership comes with taxes that vary from neighborhood to neighborhood.

Rent vs. Own

Housing costs should never exceed 28% of your monthly gross income.

· If you make $2000.00 a month, you can afford up to $560.00 a month for housing.

· Rent payment for temporary housing. The landlord owns the property and the tenant rents the property.

Renting a place to live has advantages.

· Landlord is responsible for repairs

· Must sign a ______, a contract, between the ______, renter, and the ______

· Often you need a ______, pet deposit, 1st and last months rent

· Housing expenses are fixed with no repair

· A chance to look at a neighborhood before you buy

· Other payments may be necessary: utilities, parking

· Do not have to worry about ______

· ______is passing your lease to a 3rd party. If they fail to pay – you must pay

· ______is a legal procedure that forces a tenant to leave the property before the rental agreement expires.

Renting Negatives

· Lack of control, landlord owns the property

· Lack of ______

· Lack of permanence

· Loss of ______

· Lack of parking for visitors/parties

· Costs of renting: application fee, credit check fee, security deposit, pet deposit, first and last month’s rent.

· Read the ______!

· Subleasing may not be allowed.

· Eviction is ______.

Buying a home has advantages

· Home ownership improves credit rating

· Personal expression

· Mortgage is a series of payments toward total ownership of the home, usually over 15 – 30 years

Owning Negatives

· Unexpected expenses for repairs, etc.

· High initial costs

· Bad neighbors