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Housing
Housing Fulfills Human Needs
• Physical
– Protection from the weather
– A place to eat, sleep and be safe
• Emotional
– Allows a place to relax and pursue interest in privacy
– Decorate to reflect your personal taste
• Social
– Gathering place for friends and family
– Place to work, play and relax together
Influences of Housing Decisions
First consider needs and
wants and then find a way
to balance those needs and
wants with available
resources.
What needs and wants should you
consider? • Family size
– How much room is needed?
– How many are in the family?
– Married, single, Number of children
• Family life cycle – What are the ages of the family members?
– Newly wed, new parents, empty nest
• Special needs of family members – Do any family members have special needs?
– Elderly, handicapped, space for hobbies
– Does anyone need a wheelchair or walker?
Special Needs
• Kitchens
– Lower counter tops
– Special faucets
– Braille knobs
• Bathrooms
– Grab bars
– Non-slip strips on the shower floor
• Floors
– Hard finishes are easier for wheelchairs and walkers
• Stairs
– Railings on both sides
– Ramps
– Wider hallways and doorways
• Lighting
– Lights turned on at entrance and exit
– Brighter lights for people with vision problems
Needs continued…
• Location
– Do you need to be close to your job, a school, or
transportation?
– Do you want a quiet or busy location?
– Do you want access to stores and amenities
• Environment
– Do you want to be away from noise and pollution?
– Do you want to be in a community that recycles
resources?
More needs and wants…
• Technology
– Do you want access to high-speed internet
and cable?
• Lifestyle
– What are the interests and activities of the
family?
– What needs and wants are associated with
these interest and activities?
Consider Family Resources • After deciding what the family needs and
wants, consider the financial aspects of
buying a home.
• Experts recommend spending no more
than 28 % of your income on housing
expenses.
• These expenses include: insurance, taxes,
repairs, and utilities (basic services, such
as electricity, gas, oil, water, and sewer
services)
How to stretch your housing dollars
Human resources can stretch your
housing dollars:
– Construction skills
– Decorating skills
– Time
– Energy
– Creativity
Types of Housing
Single Family Homes
– Do not share walls with another housing unit
– May be small or large
– Give more privacy
– Usually are more expensive than other types
of housing
– Includes manufactured (mobile) homes
Multi-family Homes
Share one or more walls with another dwelling
– Often more affordable
– Costs varies with size and features
– Laundry, pool and special features may be shared
with other families
– Give less privacy
– Limited storage space
– Little or no yard area
– Pets may not be allowed
Multi-family Dwellings
Duplex
– Two separate units sharing one wall or they
may be located on different levels of the same
building
Duplex
Multiplex
• Similar to duplex, but has three or more
units sharing one building
Town Houses
• Built in rows and attached to one another
at the side walls
Townhouse
• An apartment building covers any
structure that has rental units for more
than two families. Apartment building
range from large older homes divided into
three or four apartments to a high-rise with
hundreds of units.
Renting
• Rent means paying money to live in a housing
unit that is owned by some else.
• Owners of rental property are called landlords.
• When you rent housing you must sign a lease or
written rental agreement. The lease states that
you agree to pay rent a for a certain number of
months. It specifies the monthly fee and rules
you must follow to remain in the building.
• Always read before signing.
Renting Continued…
• A security deposit is required before
moving in the unit.
• The land lord may keep a portion or all of
the deposit if you do not leave the unit in
order when you move out.
Rental Terminology
AEK
A/C
applcs
appt
Apt
Avl
Ba
Bldg
Blk
All electric kitchen
Air conditioning
Appliances
Appointment
Apartment
Available
Bath
Building
Block
Terminology continued…
Cpl only Couples only
Cpt, crpt carpet
DW Dishwasher
Dntn Downtown
Elev Elevator
Entr Entrance
Facils Facilities
Frig refrigerator
Frplce fireplace
Terminology continued…
Grbg Garbage
Gar Garage
Hdwd flrs Hardwood floors
Dntn Downtown
Hskpg rm Housekeeping room
Incl Includes
Info Information
Inq Inquire
Kitch prv Kitchen privileges
Advantages of Renting
• Convenience
– Landlord does repairs
• Flexibility
– Do not have to sell your home to move
• Financial Advantages
– No unexpected costs for repairs
– No taxes
Buying a Home
• Many people buy a home because they
value the feeling of permanence
• Owning a home also offers freedom to
redecorate or remodel
• Buying a home is the most expensive
purchase most families make
Home Buying Terminology
• Mortgage – a long-term loan for the house
– Typically mortgages last for 15 to 30 years
– Longer mortgages amount to more money repaid
• Down Payment–
– Money paid before the loan
– Typically 10%-20% of the cost of the house
• Interest –
– Percentage charged for the use of the money
– Higher interest means you pay more money back
Watch the Interest
• A 30 year mortgage for $100,000 at 10%
will cost $215,000 to repay
• Having a mortgage has some advantages:
– Tax deductible
– Allows money to be invested in ways that
might earn more money than you would
spend on the interest payments
Buying
• All repairs are paid by the owner
• Yard work is done by the owner
• Property Taxes are paid by the owner, but
can be can be taken off on your yearly tax
Many People want a home, but
do not want the responsibilities
of yard work. For these people
two options are available:
• Condominium
• Cooperative or Co-op ?
Condominiums
• Individually owned units in a multiple-family
dwelling
• The owner pays a fee to help cover the cost of
maintaining hallways, landscaping, parking lots
and other common areas.
• The area from the walls in belongs to the owner
and may be decorated or remodeled to fit the
owner’s personal taste
• Rules of conduct are voted on my all owners
Cooperative
• Residents form an organization that owns
the building
• Members buy shares in the organization
and contribute to its monthly costs
• Each member receives one of the living
units
Sharing a Home
• Individuals combine finances to better
meet their housing needs
• Sharing a home only works if people are
thoughtful of one another
• If possible, every member of the
household should have some
degree of privacy
Choosing a Place to Live
• People often change housing as needs
and resources change
• The decision to move should be made
carefully
• Moving is expensive
How can housing reflect your
individuality?
Check out these unusual homes!
Strange Homes
Assignment
• Your row is forming a cooperative housing
group. Each desk is an individual unit.
• Make up a name for your housing
complex.
• Make a list of restrictions for tentants.
• Make a list of rules for your housing unit.
• Include what will be done if the rules are
not followed.
Housing Trends
• Culture
• Demographics (number of people in the
area)
• Economics
– Jobs in the area, cost of housing, interest
rates
• Society (moving south to retire, moving
often)