notanactualfairy (![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png)
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fandomhigh2008-04-07 06:21 am
notanactualfairy) wrote in fandomhigh2008-04-07 06:21 am
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Maths For Real Life, Period 1, Class 13 [4/7]
"If you have learned your lessons well from me, you may, some day, in future, be ready to purchase your first home. Do not do as a positively ridiculous number of people have done lately and buy a home you cannot afford. The bank will take your house and your credit will be in the toilet. Never ever buy a home without a down payment, or I will find you, wherever you are, and I will smack sense into you. Usually, your down payment should be at least twenty percent of the home's price, so, remember that. I have prepared for you two packets. One is on real estate in general, and is a bit technical, but provides a good grounding. Some people can make quite a bit of money in real estate--generally, it is a good investment, if you are not buying things you cannot afford and then the bottom drops out of the value. It makes sense: if you purchase a home and rent it to someone, their rent pays the mortgage, and then when you sell the home the profit goes into your pockets.
"The second packet is on buying a home. Learn this for now, but I have no doubt you will all forget much of what I have taught you the moment the final bell rings for summer, so. Keep this packet. Put it in a folder somewhere. When the time comes for you to buy that house, take it out and commit it to memory, use your own common sense, and Ihope believe you will do fine.
"Your assignment for today is to look through these local real estate listings, find a home that suits you, and figure out how much of a down payment you would need. As that is fairly simple math, for extra credit you may also figure out how much annual income you would need, assuming a 30-year fixed mortgage at 5.5 percent interest. Any questions?
"The second packet is on buying a home. Learn this for now, but I have no doubt you will all forget much of what I have taught you the moment the final bell rings for summer, so. Keep this packet. Put it in a folder somewhere. When the time comes for you to buy that house, take it out and commit it to memory, use your own common sense, and I
"Your assignment for today is to look through these local real estate listings, find a home that suits you, and figure out how much of a down payment you would need. As that is fairly simple math, for extra credit you may also figure out how much annual income you would need, assuming a 30-year fixed mortgage at 5.5 percent interest. Any questions?
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During the Lecture
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As such, he paid attention.
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Do the Assignment
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Those were... very big numbers.
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Talk to the Teacher
OOC
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