This resource is designed to suit Personal Financial Management Unit Standard 28103 ‘Analyse and select personal house financing and purchase options’ (Level 3, 3 credits). Students will examine different ways to finance and buy a home. They’ll learn about types of mortgage, look at different kinds of mortgage providers and learn to calculate interest.
Through this unit, students will:
- Be able to identify and articulate different options available to finance a house purchase
- Learn about the difference between simple and compound interest, and between fixed and floating interest rates
- Find out the establishment and maintenance costs of buying a house.
Personal Financial Management is a core generic domain on the New Zealand Qualifications Framework. This unit of work also has links to the Social Sciences and Mathematics and Statistics learning areas.
Buying your first homeDownload overview
Students taking part will
- Examine the different finance options available when buying a house
- Articulate different types of mortgage providers in New Zealand
- Learn about simple and compound interest, and calculate the difference using a given scenario
- Learn about fixed and floating mortgage rates and calculate the difference using a given scenario
- Examine the range of fees that apply when buying and owning a house.
For access to the Teaching Guide and Student Assessment for this Unit Standard, please contact us via email at: email@example.com