1. Fundamentals of Housing
Chapter 1
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2. Vocabulary Condominium – Tract Houses – Manufactured Houses –
Precuts –

3. Vocabulary Prefab Houses – Custom Homes – Cooperative – Housing –
Kit Houses –

4. Choices Are Based On… Location Climate Availability Cost
Personal Taste
Lifestyle
Please Rate =most important factor

5. A Closer Look Location is the specific placement of a home.
Also consider the following:
___Neighborhood___
___Property Values__
Schools & Health Care
Close to Work or Public Transportation
Climate greatly affects how homes are constructed.
Example: Michigan Built for cold weather. Insulation, sloped roofs & glass windows.
Example: Desert Homes Thick walls & overhangs for shade.

6. Closer Look Availability is mostly affected by shifting population.
Cost is the most crucial consideration and can greatly reduce your choices.
Personal Taste is what you find appealing. Not all homes may appeal to you at first. Keep an open mind.

7. Closer Look Lifestyle is related to a family’s:
Values
Social Status
Activities
One factor that applies to all home buyers is function.
Individual Space is for sleeping, dressing & studying.
Group Space is for conversation, dining and entertaining.
Support Space is for things like laundry, home businesses or preparing food.

8. Types of Housing Tract Houses Advantages Disadvantages
Large land divided into lots. Builders have a few floor plan. This helps reduce cost.
Advantages
_Can see finished_
_Price is set before construction starts_
_Increases in value over time_
Disadvantages
_Less individuality_
_Need to be finished_
_Small lots_
Do you live in a tract home? What makes you think this? ______________________________________

9. Custom & Manufactured Homes
Built specifically for meeting the needs of a specific household.
Costs more per square foot.
Big dream for homeowners.
Not a good choice for first-time home buyers.
Requires patience and hard work.
Produced in a factory.
Other preassembled houses are prefab housing, kit houses, and precuts.
Advantages
Affordable
Quick to produce
Disadvantages
Limited selection
Costly to ship to location

10. Mobile Homes & Cooperatives
Mobile homes are made to move.
No less than any other type of home.
Cost is affordable.
Disadvantages
Lose value quickly.
Limited choice of location.
Expensive to move.
Cooperatives are managed by a corporation.
Does not need to pay rent, however, they are responsible for paying monthly fees.
Corporation uses fees for property maintenance.

11. Condominiums & Rentals
Condos are owned by individual owners and they receive a deed.
May be a single building or group of buildings.
Each unit is owned individually but has a joint interest in the property.
Rentals can be any type of dwelling, but apartments are most common.
Advantages:
Choices seem unlimited
Little maintenance required.
Disadvantages
No control over space.
Changing neighbors often.