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Lembeck, Living the Dream Unit (upload in PDF Format only) Individual Reflection #5 Housing and Transportation Costs Name: ______________________________ Points: /10 LOCATION: ________________________________ Projected Salary: ____________________ HOUSING MONTHLY: _______________________ A good general rule of thumb is to spend no more than 30% of your gross monthly income on housing. HOUSING MARKET – Renting vs. Owning COSTS OF RENTING: Living Alone / Sharing Space (circle) RENTAL #1 Cost / Month: RENTAL #2 Cost / Month Address: Address: Cost of Rental Insurance / Month: Provide links to back up your reflection answers here: Estimated COSTS OF HOME OWNERSHIP: Property Taxes / Month: _____________________ Home Insurance / Month: ________________ Provide links to back up your data here: Estimated MORTGAGE BUDGET / Month: ____________________ Mortgage Rate: __________ Present Value of a Possible Home: ____________________ (show inputs for calculation) N= I%= PMT= P/Y=12 C/Y=12 HOME #1 Present Value: Home #2 Present Value: Address: Address: PMT=END Provide links to back up your reflection answers here: What did the housing market look like in the area you chose to live? Were rentals a better deal or purchasing for your situation, and why? TRANSPORTATION OPTIONS Identify possible transportation options for the region for getting to and from work. Was public transportation available (subway, busses, zipcars, Uber etc.)? What types and what were the costs? Provide links to back up your reflection answers here: AUTO COSTS Is there a cost to park a car at your potential job location? ________ How much monthly? ___________ Is there a cost to part a car at your potential housing option? _______ How much monthly? ___________ How much does it cost to title / register a car in your location annually? ________ monthly? __________ Provide links to back up your reflection answer here: Automobile Year / Make / Model: __________________________ Present Value: ______________ Provide links to back up your reflection answer here: Assumed Credit Rating: ________________ APR: ______ 5-year N: ______________ PMT: ___________ Overall Cost of Car over term of loan: ________________ AUTO INSURANCES Liability Insurance cost / year: _____________ Comp/Collision cost / year: ______________ Coverage: ______ / ______ / ______ Deductible: Deductible: Did you choose to go with just liability or did you need comprehensive/collision coverage? Provide links to back up your reflection answer here: Overall, what type of transportation did you decide to use to get you to your dream job in your dream location? Did you weigh time considerations into your decision?
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