This real estate project helps answer the myriad of questions posed by buying or renting a house. Prior to the field trip, classtime is spent on textbook material dealing with down payments, mortgage payments, closing costs, property taxes, homeowner's insurance, home maintenance and improvements, and energy conservation. The pros and cons of owning a house and renting an apartment or house are discussed. Before the field trip, informational worksheets are presented. The class takes a field trip to a bank to learn about acquiring a loan for a home.
Students are amazed to learn how much money is needed to buy a house.
Next, at a title company, students learn about title insurance, why a person needs title insurance, and other pertinent items. The third and last part of the day is a tour through houses that are for sale. This is correlated through a local realty company. The realtor shows students a diversified selection of homes. After the field trip, students discuss different topics learned during the day-long activities.