Watch this video to discover how people find a place to live — and what it really means to rent or buy a home
Crossword
Can you remember the key words from our video about renting and buying a home?
Try this Mortgage Calculator
It helps you estimate how much you’d need to pay each month for a home, based on the total price and how much money you’ve saved. The saved amount is called a deposit—in the form below, it’s called a “down payment”, but it means the same thing. We set interest to 4% and mortgage period to 25 years – both are typical.
Monthly Mortgage Payments
What does this mean?
Monthly Payment: This is the amount you will pay per month Balance Payable with Interest: This is the total amount you will pay back to the bank Total with Down Payment: This is the total amount you will pay back to the bank including the “Down Payment” – your Deposit
Questions
Buy or Rent Sorting Activity
Drag each statement to the correct side. Is it something that usually happens when you rent a home or when you buy one?
Record What You’ve Learned
One more task before you are done!
Well done today! You’ve learned so much about how people choose between renting and buying a home.
Thank you for staying focused and thinking through these big life choices like a pro!
