1. Question to think about!
Section 13.1 & 13.2
Question to think about!
Key Terms
*Dormitory
*Condo
*Lease
*Tenant
*Landlord
*Security Deposit
Describe agreements you should make with a roommate before renting an apartment?

2. Buy Rent Section 13.1 & 13.2 Advantages Advantages Lower Costs
Ownership
Value
Your Own Space
Fewer Restrictions
Disadvantages
Down Payment – 20%
High Cost
Property Taxes and Insurance
Restricted Mobility
More Responsibility
Advantages
Lower Costs
Less Responsibility
Mobility
Disadvantages
No Ownership
More Restrictions
Shared Space

3. Rent Section 13.1 & 13.2 Lease Terms: Rent of an apartment depends on:
Length of Time
Rent Amount and Due Date
Security Deposit
Who is responsible for paying utilities
Rights to use facilities
Restrictions – pets
Rules – loud music, etc.
Landlord’s responsibility to make repairs
Notice you are required to give before moving out.
Rent of an apartment depends on:
Convenience
Neighborhood
Environment
Age
Size and Condition
Facilities
Pets

4. Work Section 13.1 & 13.2 4 more 2 more
Prepare an Apartment Evaluation Checklist
Outside the Building and Grounds
Does the neighborhood appear safe and well maintained?
4 more
Inside the Apartment
Does the apartment’s entry door have a strong lock that works?
10 more
Common Areas Inside the Building
Are the building’s hallways clean and free of trash?
2 more

5. Work This is my #1 Section 13.3 & 13.4
Make a “wish” list to furnish your home affordably.
Immediately
Soon
Wait
Dishes
Microwave
Pictures
Utensils
Coffee Maker
This is my #1

6. Section 13.3 & 13.4 “Lifestyle” *Mortgage *Escrow Account *Principal
Question to think about!
Key Terms
*Mortgage
*Escrow Account
*Principal
*Down Payment
*Closing Costs
*Fixed-Rate Mortgage
*Adjustable Rate Mortgage
*Earnest Money
“Lifestyle”
How would your lifestyle determine what type of home you will want when you are:
Single
Married with Kids
Retired
Location
LifeSmart – Where to Live Section