This is the project I end our Financial Literacy course with each year. After studying the factors that go into purchasing a house, students are given this PowerPoint document to lead them through their own simulation of finding and purchasing a home.
Students must decide what is important to them in purchasing a home, work within a provided budget, and find an actual home for sale that best fits their values.
This PowerPoint walks students through identifying the many key costs that purchasing a home entails. This project covers down payments, closing costs, mortgage payments, moving costs, maintenance fees, furnishing costs, overall cost once the loan is paid off, total interest paid, and more.
I made sure to provide step by step instructions for every calculation to scaffold the tasks for some of my eighth grade students that take longer to understand these concepts.
Students love this end of course project, have a lot of fun picking their own house, and presenting their finish products to the class.