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Standard 10: Renting vs. Buying

PFL 10.1: Renting vs. Buying a Home

PFL 10.2: Understanding Lease Agreements

PFL 10.3: Financial Considerations for Homeownership

Full Standard Details Below

Teaching Resources

Oklahoma State Department of Education: Making $en$e: Financial Success Curriculum and Frameworks | view now

  • Module 10.1: Housing Alternatives
  • Module 10.2: Leasing a Place to Live
  • Module 10.3: Buying a Place to Live

Lessons, Activities, Calculators and Videos

  • Calculator: Interest Only Mortgage Calculator | view now
  • Calculator: Home Rent vs. Buy | view now
  • Lesson: Buying a Home – OCEE | view now  Written by Carrie Hixon, Mustang Schools
  • Lesson: Buying vs. Renting | view now
  • Video: What to Know When Renting an Apartment – NerdWallet | view now
  • Video/Edpuzzle: Owning vs. Renting a Home – NGPF| view now

Full Standard Detail

PFL.10.1 Explain the advantages and disadvantages of renting versus buying a home by comparing how various housing options meet different needs and wants. 

PFL 10.2 Describe the elements and terms of a standard lease agreement (e.g., deposit, due date, grace period, late fees, and utilities).

PFL 10.3 Analyze financial considerations when purchasing a place to live.

A. Identify types of lenders and mortgage loans, including fixed versus adjustable- rate mortgage loans.
B. Explain the elements of a mortgage (e.g., down payment, escrow account, home insurance, property taxes, late fees, potential early payment penalties, and amortization tables).