1. Housing Choices

2. Housing Needs  Physical needs  Provides shelter  Safe place for possessions  Space for personal activities  Emotional needs  Provides privacy  Opportunity for personal expression

3.  Social needs  A place to gather with family members and friends  Provides a feeling of belonging to a neighborhood or community  Individual needs  Barrier-free for those with disabilities  Meets the needs of various life stages

4. Housing Expenses  We spend more money on housing than any other single living expense.  Factors that influence the cost of housing  1. size of the home  2. location  Growing areas of the country cost more

5.  Costs to rent  Rent  Security deposit –fee you must pay in advance to cover damage you may cause to the property.  If you cause no damage you get your money back when you move out.  Pay for utilities (unless included in the rent)  Gas, water, electric, cable, internet  Buy furniture and appliances  Renters insurance

6.  Purchasing a home  Pay a monthly mortgage payment  Mortgage – a long-term home loan.  Pay for utilities, furniture, and appliances.  Pay property taxes  Maintenance costs  Homeowners Insurance 

7. Housing Options  When looking at housing options one needs to know what their income will be.  The rule of thumb is to spend no more than 1/3 of gross pay on housing.  RENT OR BUY  LIVE ALONE OR SHARE  LIVE AT HOME

8.  Living with a roommate  Agree on ground rules before becoming roommates  Finances – how will bills be paid?  Food and supplies – share food or keep separate food supplies? What about paper products and cleaning supplies?  Cleaning – do you agree on what’s clutter and what’s clean? How will cleaning tasks be divided?

9.  Space –who gets which bedroom? Parks in the garage?  Guests – overnight or weekend guests?  Considerations – watching TV or listening to music while room mate is sleeping or reading. Limiting shower length when both have to get ready for work or school.

10.  LIVING AT HOME  More and more adult children are moving back home with their parents.  Economic reasons  Convenience and practical  Difficulties  Parents adjusting to their child’s return  Children have to adapt to the new adult-to-adult relationship.  Cooperation and good communication is needed

11. location  Cities  Great culture, shopping, and entertainment  Crowded and noisy  Housing is very expensive.

12.  Suburban  Residential area surrounding the city.  Jobs and leisure activities of the city  Live in a more relaxed community

13.  Rural areas  Lack excitement and conveniences of city life  Less noise and pollution  Easier access to outdoor activities  Small communities

14.  Factors to consider when choosing location  Familiarity – stay in a location that is familiar to you. Where you have family and friends.  Desire for change – want a setting and lifestyle different from what they already have.  Lifestyle considerations – career goals require you to move. Do you want to live near pace of work or commute. Climate, physical features, or low cost of living.

15.  Practical considerations – transportation, shopping, and other practical issues can make one location more desirable than another.

16. Types of Housing  We choose different types of housing at different stages in our lives.  Determined by income, stage in the family cycle, and needs.  Young adults usually start out renting an apartment.  After a few years, when established in careers and have some money, may buy a small home.  Move to a larger home to raise a family.  Older adults whose children have left buy a smaller home.

17. Types of Structures  Turn to page 678 and look at Fig. 46-5. Read about the six most common types of structures and then suggest the appropriate housing choices for the following people, give reasons for your choices.  1. Lisa lives in the city and prepares lunches at a bistro, then returns in the evening for the dinner crowd.  2. the Rose family has two children and two dogs.  Scott’s a divorced dad who wants space for his two sons plus a workshop.

18.  4. newlyweds Aimee and Daniel are employees of the same airline.

19.  1. Loft or town house  2. single family house  3. single family house or town house  4. apartment

20. Types of Ownership  Condominium ownership  You own the unit you buy and share ownership of the common areas  Hallways and grounds  Pay a monthly fee to cover maintenance of these areas  Cooperative ownership  You own stock in a corporation that owns the entire property and its grounds.  You pay a monthly fee that covers your share of mortgage payments, maintenance expenses, and property taxes for the whole building.  You do not own the unit, just the right to occupy it.