1 / 6

Concepts of Home Ownership

Concepts of Home Ownership. Types of Housing. Apartments Condominiums Cooperative PUD’s – Planned Unit Developments Also called Master Planned Community Retirement Communities High-rise or Mixed-Use Developments Manufactured Homes Modular Homes Time Shares. Housing Affordability.

lydie
Download Presentation

Concepts of Home Ownership

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Concepts of Home Ownership

  2. Types of Housing • Apartments • Condominiums • Cooperative • PUD’s – Planned Unit Developments • Also called Master Planned Community • Retirement Communities • High-rise or Mixed-Use Developments • Manufactured Homes • Modular Homes • Time Shares

  3. Housing Affordability • General guidelines: • PITI payments should not exceed 28% of gross income • All payments should not exceed 36% of gross income. • How can you know how much you can afford? • Financial calculators are good! • Examples

  4. Real Estate as an Investment • Advantages • Disadvantages • Taxation on real estate • property taxes • interest deduction • loss limitations on investment property

  5. Homeowner’s Insurance • See book for coverage and claims • Coinsurance clause • EFIS – exterior insulating finishing system

  6. Flood Insurance • How it works • Is your house in a flood zone? • http://msc.fema.gov • How can you get around flood insurance? • How does a flood zone affect property values? • Would you ever buy a house in a flood zone?

More Related