Buying a House Activities

In this activity, students will be able to:

• Analyze data on three significant barriers to homeownership: housing affordability, racial discrimination, and generational wealth inequality.
• Consider the long-term impacts of barriers to homeownership

In this activity, students will be able to:

• Use the Rule of 3 and 28-36 Rule to estimate a housing budget
• Use an online calculator to determine housing budgets for two sample profiles
• Identify the factors that impact a person's housing budget

In this activity, students will be able to:

• Roleplay the steps of home buying negotiations
• Understand the role of contingencies in the negotiations process
• Reflect on the needs and wants of a home buyer and seller
• Determine a fair market value for a home based on comparable homes

In this activity, students will be able to:

• Use various internet tools to assist with the home buying process
• Find realistic homes that fit into the budget of a first home and dream home
• Understand how special mortgage and state programs can affect the affordability of a home
• Reflect on the compromises that might need to be made when buying a home

 This activity does not have an answer key.

In this activity, students will be able to:

• Consider how needs and wants affect the home search process
• Calculate a reasonable house price based on income and monthly debt
• Explain how factors like monthly debt, income, and down payment can affect the home price that a buyer can afford to pay