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Real Estate
Renting, buying, mortgages and building equity.
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Real Estate covers leases, deposits, mortgages, down payments and how equity turns rent money into ownership.
Kid Tapp™ overview episode
Renting smart
- Rent plus utilities should stay near 30% of take-home pay.
- Photograph everything at move-in — that's your deposit protection.
- Read the lease for break clauses, guests, pets and repair duties.
Buying basics
- Down payment options range from 3% to 20%; under 20% usually adds mortgage insurance.
- Closing costs run roughly 2–5% of the price on top of the down payment.
- Get inspected. Always. A $500 inspection can save a $30,000 mistake.
Equity and value
- Equity = market value − what you still owe.
- Each payment splits into interest and principal; only principal builds equity.
- Location, schools and supply drive value far more than paint color.
🎬 Episode: Rent vs buy the same $1,600
Compare five years of renting against five years of owning.
- Renting: $1,600/month = $96,000 out, $0 equity, full flexibility.
- Owning: similar payment, roughly $25–35k in equity, plus repairs and taxes.
- Decide by how long you'll stay — under three years, renting usually wins.
⏱️ Timed Challenge
3 questions · 60 seconds · beat your score.
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