Housing, construction and mortgages
The path is primarily for ages 13–18 and adult beginners. Younger children can learn alongside a parent or teacher. Levels describe prior knowledge, not a guarantee of suitability for every age.
What you will learn
- Choose house or apartment and enter five cost categories.
- Compare two quotes by scope, exclusions, dates, responsibility and payments.
- List property price, equity, borrowing and additional costs separately.
Practice example
Budgeting for a house or an apartment
A contractor costs 1,000,000: 300,000 paid and 700,000 remaining. Adding the subtotal again would double-count it.
Choose house or apartment and enter five cost categories.
Who builds the home? Contractors and supervisors
A fictional turnkey contract includes flooring and electrical work but excludes the kitchen. Count the contractor once and add the kitchen separately.
Compare two quotes by scope, exclusions, dates, responsibility and payments.
Recommended sequence
- Budgeting for a house or an apartment
A full budget includes land or property, additional costs and work, not just the headline price.
Level 5 · 5 minutes to read - Who builds the home? Contractors and supervisors
A contractor performs work. A turnkey contractor coordinates a delivery package defined by the contract and specification.
Level 5 · 5 minutes to read - Mortgage basics: principal, equity and security
A mortgage is a loan secured against property. Principal is the amount borrowed; interest is the cost of borrowing.
Level 5 · 5 minutes to read - Contingency and construction cash flow
A contingency covers overruns; cash flow also checks when payments fall due and funds become available.
Level 5 · 5 minutes to read - Mortgage tracks: fixed, prime and index-linked
A track defines how interest and principal can change. A mix divides borrowing between tracks.
Level 5 · 5 minutes to read - Payments, amortisation and refinancing
An amortisation schedule separates principal and interest. An unlinked annuity loan has constant payments when its rate stays constant.
Level 5 · 5 minutes to read
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Businesses and complex debt