Buying Your First Home (Renting vs. Owning and 15 vs. 30 Year Mortgages)

Business Girl
Grade Levels
9th - 12th
Formats Included
  • PDF
  • Activity
7 pages
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Business Girl
Easel Activity Included
This resource includes a ready-to-use interactive activity students can complete on any device. Easel by TpT is free to use! Learn more.

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In this project students figure their purchasing power, select a house that they would like to buy, and investigate the total costs involved in purchasing that home. Students will also compare and contrast the advantages and disadvantages of a 15 vs. 30 year mortgage and renting vs. owning. This assignment is worth a total of 50 points and has points possible listed next to each question. An answer key is also provided with suggested answers. This project goes well with a Personal Finance, business math, or economics course.

This product has answer boxes added in an interactive layer of the PDF. To make this activity digital, you can assign it through Google Classroom or you can copy a unique URL to the activity and paste it into any LMS you use with your students. However, students will need to login with a Google email account in order to access their activity. As a reminder, all student work is completed and reviewed on TpT.

Topics covered include:

  • Purchasing power
  • Reasons for choosing the house
  • Renting as an option
  • Expenses associated
  • Using a mortgage calculator to compare and contrast a 15 year vs. 30 year loan term
  • Analysis of 15 vs. 30 year mortgage
  • Analysis of renting vs. owning
  • Argument for or against "a mortgage is good debt"

Save $$$ by purchasing this product as part of the Personal Finance Project Bundle.

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Total Pages
7 pages
Answer Key
Teaching Duration
1 hour
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