This has the potential to be a big project involving mortgage finance, interest rates, income tax, national insurance, scheduling, Gantt diagrams and estimation.
The task starts with considering the financial implications of having a mortgage and the associated bills of owning a house. A lot of relevant financial information is provided. (Note: this will be liable to change each financial year, so will need to be updated regularly.) The task then considers the alternative option of building your own house. This introduces scheduling issues and activity networks, before considering the estimation of the costs involved.
Number and Measures, Financial Maths, Discrete Maths
The task could provide revealing insights into the costs of owning a house.
Ideal for group work with plenty of opportunity for collaboration and discussion. The three case studies lend themselves to three groups.
Spreadsheets to: compare the mortgage offers; complete scheduling activities.
There is plenty of scope to tailor this activity within a scenario to suit your students. A new build at school/college?
Developed by Nicola Letts at The Duston School.