Introduction
Congratulations!  You have finally graduated and landed your first job.  Now you want to move out of your parent's house and get a place of your own.  Freedom at last!  However, this can be a very time consuming process.  This project will help you organize all of the information needed to make a wise decision.

As an educated consumer you are going to research your options of renting an apartment versus owning a single family home or townhouse.  You will need to use a budget to determine how much you can afford in rent. You will also need to find out how much it's going to cost you to move and furnish your apartment. 
 
 

• The first thing you will need to do is take a look at your budget .  Determine how much money you have to spend on an apartment.  Don't forget to include money for your savings.  Make any adjustments you feel are necessary.  For example, you may want to cut back on entertainment so you can afford your apartment.  Print out your budget, make the adjustments and hand in to your teacher for approval.

• Now you can conduct your research to compare renting versus owning.  Fill out the charts  provided for you.  List the advantages and disadvantages of each.  Here is a list of websites for you to help you do your research:

Mortgage Orbit's Home Loan Center
Debbie Online
Home Sweet Home
Renting Vs.Owning
The Buyer's Agent
Money Talks

• It's time to look for your first apartment.  Make a list of the things that you find important in an apartment.  Keep in mind that many things, such as fireplaces and balconies, will add to the cost of the apartment.  

• Use the Internet to find three one-bedroom apartments at different apartment complexes.  Print out and fill in the tables to help you to compare your choices. 

• Print out the floorplans of each apartment.

• Choose the apartment that you believe is the best choice.      

• Now you have to furnish your apartment.  Take a copy of the floorplan of your chosen apartment that you printed earlier and draw in the furniture that you will need.  In the table make a list of everything you may need for the kitchen, bathroom, living room and bedroom.  

• Use newspaper ads or web sites to find out the cost of furniture and appliances.  Enter all of your costs into a table and place in your portfolio.

• Now you need to determine how much it will cost to hook up your cable, te lephone, gas, electricity, and water.   Add these costs to the bottom of your table.
  

• It's moving time!  Figure how much it is going to cost you to use a moving company to move all of your belongings.  Consider how many things you have so you can estimate what size truck you will need.  Include this with your hook-up costs on your table.

• Know your rights.  Research your rights as a tenant and write a list of five rights that affect you.

• Organize everything in a folder and hand in.
  

Illinois State Standards:  Language Arts 1.A.5b; 3.A.5;   Mathematics  6.B.4; 6.C.4; 10.A.4a