Name

Date

What Salary is Required to

Own My Dream Home??

Analysis

A. Based on your annual salary of $50,000 working for GE Graphic Arts Design Co. would you be
able to afford to purchase your dream home?

Yes

No

B. Using your Living Profile Budget, replace the amount for monthly rent with the monthly mortgage
of your Dream Home.
i.

What is your new monthly budget total?

ii. What is your new annual budget total?

C. If you were purchasing this home on your own, which of the salaries listed would make
purchasing the property possible?

$60,000

$70,000

$80,000

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D. If you were purchasing this home with a life-time partner, family member, significant other or
spouse, what combined salaries would make the home purchase possible?

$35,000

/ $50,000

$50,000

/ $50,000

$60,000

/ $70,000

E. What is the difference between renting and paying a mortgage?

F. Is building equity by purchasing property more beneficial than renting? Why?

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