Renting or Buying?

A WebQuest for 11th Grade
(Mathematical Models With Applications)

and Tony Van Goethem Anthony.Vangoethem@sfdr.cisd@org

Introduction

Sick of throwing money away renting? Are you tired of constantly spending extra money having to repair your home? Which is better, renting or buying? There are advantages and disadvantages to each. Your assignment is to decide which will be best for you, renting or buying. Your company just moved you to a new city and you must decide if you’re going to buy a house or rent one. One member of your group will act as a rental properties manager, one member will act as a real estate sales person, and one person will act as a prospective homebuyer or home renter. All three members of your group will determine which is better, renting or buying.

Task

You will need to collect information to make this major decision. In order to make an informed decision, your group must collect facts about the city that you are going to live in order to make a good decision. At the end of this Web Quest, your group will write a position paper using Microsoft Word about your decision and use the information you discovered to defend your decision.

Process

First you will be assigned to a team of three students. The three of you will play the following roles:

1. A Rental Properties Manager

2. A Real Estate Sales Person

3. A person in need of lodging

The rental properties manager will explain all of the costs involved in renting a house and will also explain all of the advantages and disadvantages of renting. This person will provide a detailed listing of the total costs involved with renting a house and an itemized listing of the advantages and disadvantages of renting a house.

Here are some links look at:

http://www.texasbesthomes.com/mortgageinfo.html Mortgage Info Income qualifier, Rent vs. buy calculator, Payment calculator and Affordability calculator.

http://ww02.chase.com/insurance/rentersins/renters_insurance.asp?mktsrccd=116 Renters Insurance.

http://www.movingcenter.com/mc.dll?page=home Info on apartments.

http://www.ffcidaho.com/articles/renting_vs.htm Renting vs. Buying.

http://www.efl.arts.gla.ac.uk/CampusOnly/essays/RENTBUY.htm Rental Buying Comparisons

http://www.ourfamilyplace.com/homebuyer/buyorrent.html Rental Buying Comparisons

http://www.premier2.com/vs.htm Rental Buying Comparisons

http://www.rental-technologies.com/ Rental Houses

The real estate sales person will explain all of the costs involved in purchasing and maintaining a home. The sales person will also explain all of the advantages and disadvantages of home ownership. This person will provide a detailed listing of the total costs involved with buying a house and an itemized listing of the advantages and disadvantages of buying a house.

Here are some links look at:

http://www.txed.state.tx.us/guide/search/s-chamber3.cfm?ID=156 Chambers of commerce. Links to DR Chamber of commerce with links to city tax rates etc.

http://www.prudential.com/framesetInternal/0,1493,intPageID%253D1753%2526blnPrinterFriendly%253D0,00.html Home owners insurance.

http://www.ffcidaho.com/articles.htm Home ownership process.

http://www.allpropeople.com/rerealestate.htm About buying a home

http://www.ffcidaho.com/articles/renting_vs.htm Renting vs. Buying.

http://www.efl.arts.gla.ac.uk/CampusOnly/essays/RENTBUY.htm Rental Buying Comparisons

http://www.ourfamilyplace.com/homebuyer/buyorrent.html Rental Buying Comparisons

http://www.premier2.com/vs.htm Rental Buying Comparisons

The person in need of lodging will have to analyze the data provided by the rental properties manager and the real estate sales person in order to make a decision to rent or buy their house. The buyer or renter will have to write a convincing argument supported by facts as to why they chose to rent or buy.

Here are some links look at:

http://www.texasbesthomes.com/mortgageinfo.html Mortgage Info Income qualifier, Rent vs. buy calculator, Payment calculator and Affordability calculator.

http://www.indymacmortgage.com/loanworks/loancalc/java/default.asp?calc=rentvsbuy

Rent vs. buy calculator.

http://www.ffcidaho.com/articles/renting_vs.htm Renting vs. Buying.

http://www.dehanas.com/vs.html Buy vs. Rent.

http://www.ffcidaho.com/articles.htm Home ownership process.

http://www.allpropeople.com/rerealestate.htm About buying a home

http://www.efl.arts.gla.ac.uk/CampusOnly/essays/RENTBUY.htm Rental Buying Comparisons

http://www.ourfamilyplace.com/homebuyer/buyorrent.html Rental Buying Comparisons

http://www.premier2.com/vs.htm Rental Buying Comparisons

Evaluation

The group members will be evaluated on their group work and their individual work.

This rubric is how you will be evaluated as a group.

CATEGORY	4	3	2	1
Contributions	Routinely provides useful ideas when participating in the group and in classroom discussion. A definite leader who contributes a lot of effort.	Usually provides useful ideas when participating in the group and in classroom discussion. A strong group member who tries hard!	Sometimes provides useful ideas when participating in the group and in classroom discussion. A satisfactory group member who does what is required.	Rarely provides useful ideas when participating in the group and in classroom discussion. May refuse to participate.
Attitude	Never is publicly critical of the project or the work of others. Always has a positive attitude about the task(s).	Rarely is publicly critical of the project or the work of others. Often has a positive attitude about the task(s).	Occasionally is publicly critical of the project or the work of other members of the group. Usually has a positive attitude about the task(s).	Often is publicly critical of the project or the work of other members of the group. Often has a positive attitude about the task(s).
Quality of Work	Provides work of the highest quality.	Provides high quality work.	Provides work that occasionally needs to be checked/redone by other group members to ensure quality.	Provides work that usually needs to be checked/redone by others to ensure quality.
Working with Others	Almost always listens to, shares with, and supports the efforts of others. Tries to keep people working well together.	Usually listens to, shares, with, and supports the efforts of others. Does not cause "waves" in the group.	Often listens to, shares with, and supports the efforts of others, but sometimes is not a good team member.	Rarely listens to, shares with, and supports the efforts of others. Often is not a good team player.
Focus on the task	Consistently stays focused on the task and what needs to be done. Very self-directed.	Focuses on the task and what needs to be done most of the time. Other group members can count on this person.	Focuses on the task and what needs to be done some of the time. Other group members must sometimes nag, prod, and remind to keep this person on-task.	Rarely focuses on the task and what needs to be done. Lets others do the work.
Preparedness	Brings needed materials to class and is always ready to work.	Almost always brings needed materials to class and is ready to work.	Almost always brings needed materials but sometimes needs to settle down and get to work	Often forgets needed materials or is rarely ready to get to work.

The next two rubrics are how you will be evaluated as individuals. The first one is for the rental properties manager and the real estate manager. The second rubric is for the person in need of lodging.

CATEGORY	4	3	2	1
Amount of Information	All topics are addressed and all questions answered with at least 2 sentences about each.	All topics are addressed and most questions answered with at least 2 sentences about each.	All topics are addressed, and most questions answered with 1 sentence about each.	One or more topics were not addressed.
Quality of Information	Information clearly relates to the main topic. It includes several supporting details and/or examples.	Information clearly relates to the main topic. It provides 1-2 supporting details and/or examples.	Information clearly relates to the main topic. No details and/or examples are given.	Information has little or nothing to do with the main topic.
Sources	All sources (information and graphics) are accurately documented in the desired format.	All sources (information and graphics) are accurately documented, but a few are not in the desired format.	All sources (information and graphics) are accurately documented, but many are not in the desired format.	Some sources are not accurately documented.
Internet Use	Successfully uses suggested internet links to find information and navigate within these sites easily without assistance.	Usually able to use suggested internet links to find information and navigates within these sites easily without assistance.	Occasionally able to use suggested internet links to find information and navigates within these sites easily without assistance.	Needs assistance or supervision to use suggested internet links and/or to navigate within these sites.
Organization	Information is very organized with well-constructed paragraphs and subheadings.	Information is organized with well-constructed paragraphs.	Information is organized, but paragraphs are not well constructed.	The information appears to be disorganized. 8)

CATEGORY	4	3	2	1
Sentences & Paragraphs	Sentences and paragraphs are complete, well constructed and of varied structure.	All sentences are complete and well constructed (no fragments, no run-ons). Paragraphing is generally done well.	Most sentences are complete and well constructed. Paragraphing needs some work.	Many sentence fragments or run-on sentences OR paragraphing needs lots of work.
Length	The letter is 10 or more sentences.	The letter is 8-9 sentences.	The letter is 5-7 sentences.	The letter is less than 5 sentences.
Grammar & spelling (conventions)	Writer makes no errors in grammar or spelling.	Writer makes 1-2 errors in grammar and/or spelling.	Writer makes 3-4 errors in grammar and/or spelling	Writer makes more than 4 errors in grammar and/or spelling.
Neatness	Letter is typed, clean, not wrinkled, and is easy to read with no distracting error corrections. It was done with pride.	Letter is neatly hand-written, clean, not wrinkled, and is easy to read with no distracting error corrections. It was done with care.	Letter is typed and is crumpled or slightly stained. It may have 1-2 distracting error corrections. It was done with some care.	Letter is typed and looks like it had been shoved in a pocket or locker. It may have several distracting error corrections. It looks like it was done in a hurry or stored improperly.
Content Accuracy	The letter contains at least 5 accurate facts about the topic.	The letter contains 3-4 accurate facts about the topic.	The letter contains 1-2 accurate facts about the topic.	The letter contains no accurate facts about the topic.

Conclusion

By this time in the WebQuest, you will have realized that many important factors go into the decision to buy or rent. Compare your facts and decision with other groups in your class that picked other cities. How did your decision compare with other groups? Did they rely on the same factors that your group relied on?

Credits & References

All rubrics are done using Rubistar http://rubistar.4teachers.org/index.shtml

We all benefit by being generous with our work. Permission is hereby granted for other educators to copy this WebQuest, update or otherwise modify it, and post it elsewhere provided that the original author's name is retained along with a link back to the original URL of this WebQuest. On the line after the original author's name, you may add Modified by (your name) on (date). If you do modify it, please let me know and provide the new URL."

Last updated on October 31, 2002. Based on a template from The WebQuest Page