Recently we had a fun morning of what we called "model home math". As we enjoyed walking through homes in Huntington Beach not only did we talk about the architecture, interior design, and our favorite rooms, but we talked about numbers. What kind of numbers, you ask? Well, we discussed square feet, numbers into the millions, and price per square foot. We added, divided, multiplied, and found the difference. For example, how much more would it cost to buy a house with an ocean view vs. a house without (for our favorite home it was about an $800,000 difference). We talked about down payments, loans, monthly mortgages, interest, percentages, and taxes. After we saw the beauty of the model homes and their views we drove by a home in the tract being completed. We took a look at what you really get for 1.5 million dollars (the shell of a nice home with plain white walls, no interior design perks or furniture and no view - a good location though).
Conclusions:
Carly said she'd be just fine living in an apartment by the beach.
Allie wants to buy the largest, most elegant and formal model home with all the furniture (also happens to be the most expensive).
Nate said he's okay to stay where we're at.
Micayla just wants the golf cart so she can drive herself to ballet.
A fun math site:
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