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 home: US28103Download 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: firstname.lastname@example.org