Category: Student Posts

In the Home and School Buying Simulation, I was assigned a $54,000 annual gross income. I also have a car and savings for a down payment. Because of these factors, I had a fairly easy time finding houses to buy in the suburbs surrounding Hartford. In order to find a home, I simply searched for homes in my budget on Craigslist and browsed through multiple choices. This process did not take me very long and I had plenty of options. However, if I did not have a car, I would not have been able to look at homes too far outside of Hartford. I also have money saved for a down payment and minimal monthly debt payments, which both aided in this process. Although I could easily rent property, I would rather own a home in order to build equity.

I researched the four school districts where my children would possibly attend school. South Windsor and Southington seem to have better public schools than Bristol and Manchester. I came to this decision based on CMT scores in the elementary schools, because my children are in grades 3 and 6. South Windsor and Southington public elementary school students either tied or surpassed state average CMT scores. Furthermore, I looked at high school graduation rates because my children will eventually attend these schools. South Windsor has a 95% high school graduation rate while Southington has a 99% high school graduation rate.

Because of my relatively high annual gross income and minimal monthly debt payments, this process was stress-free and I had ample options. However, I would  not be able to live in the suburbs if I did not have a car. Therefore, I would live in Hartford and my children would attend Hartford Public Schools. My family is lucky that we can move to the suburbs in order to attend different public schools.

As for improving this simulation for the web, I actually prefer completing it on paper. That way, I can spread all of my information out in front of me in order to make an informed decision.

Due to my age and inexperience, I have never faced the challenge of buying a home and selecting the appropriate neighborhood for my children to grow up in. In addition, being new to the Hartford area, I am mostly unfamiliar with the suburbs surrounding Hartford and what sort of education these suburbs have access to. This simulation taught me both how the home buying and mortgage process works as well as what sort of educational experience my children could receive if my family settled in a suburb of Hartford.

At the start of the simulation, I received one of best family profiles (by the grace of Professor Dougherty’s random selection). I quickly learned, with an annual gross income of 54k and savings of 10k, that not only could I easily afford a two or three bedroom house in the suburbs, but I could also afford a home that was highly attractive.

My favorite home was located in Glastonbury, CT. Rich red in color, modern in design, with two bathrooms and three bedrooms, the home appeared to be perfect for my two children and me. Also, at $209,900, the house fit perfectly into my budget (according to the home affordability calculator²). When I browsed the education information, conveniently located on the house buying site, I was even more amazed. Most of the schools in the area ranked an 8 or 9 on a scale of 10. By far, the schools in Glastonbury had the highest ranking of any of the other schools I found nearby other houses I was looking at in Berlin, New Britain, and West Hartford, just to name a few.

Because I had such a big budget, money was barely an issue, and I found I had many homes to choose from and in a variety of locations. I feel, if this simulation where to put on the web, more comparison between homes and schools available in Hartford, versus homes and schools available in the surrounding suburbs, would make the simulation more effective. I barely noticed the effect that money had on the schooling available to my children. However, that was because I had plenty of money to go around. Perhaps, if I had worked with a smaller sum, I would have realized that many suburban homes and suburban schools would have been off-limits to me. I guess you could say, with so much money to spend, it was difficult for me to understand the plight of some of my other classmates who were limited to areas with poorer school systems.

Knowing how the whole system works, however, I realize that money buys more than a home. It buys access to the local schools and buys the surrounding neighborhood. I was just lucky enough to be able to afford schools and a neighborhood that were excellent.

 

¹“248 Hollister Way West Unit: 248.” Realtor.com. N.p., n.d. Web. 6 Sept. 2012. <http://www.realtor.com/realestateandhomes-detail/248-Hollister-Way-W-Unit-248_Glastonbury_CT_06033_M47782-96479>.

²“How Much House Can You Afford?” Affordable Home Calculator from CNNMoney. N.p., n.d. Web. 07 Sept. 2012. <http://cgi.money.cnn.com/tools/houseafford/houseafford.html>.

³“248 Hollister Way West Unit: 248.” Realtor.com. N.p., n.d. Web. 6 Sept. 2012. <http://www.realtor.com/realestateandhomes-detail/248-Hollister-Way-W-Unit-248_Glastonbury_CT_06033_M47782-96479>.

Due to my age and inexperience, I have never faced the challenge of buying a home and selecting the appropriate neighborhood for my children to grow up in. In addition, being new to the Hartford area, I am mostly unfamiliar with the suburbs surrounding Hartford and what sort of education these suburbs have access to. This simulation taught me both how the home buying and mortgage process works as well as what sort of educational experience my children could receive if my family settled in a suburb of Hartford.

At the start of the simulation, I received one of best family profiles (by the grace of Professor Dougherty’s random selection). I quickly learned, with an annual gross income of 54k and savings of 10k, that not only could I easily afford a two or three bedroom house in the suburbs, but I could also afford a home that was highly attractive.

My favorite home was located in Glastonbury, CT. Rich red in color, modern in design, with two bathrooms and three bedrooms, the home appeared to be perfect for my two children and me. Also, at $209,900, the house fit perfectly into my budget (according to the home affordability calculator²). When I browsed the education information, conveniently located on the house buying site, I was even more amazed. Most of the schools in the area ranked an 8 or 9 on a scale of 10. By far, the schools in Glastonbury had the highest ranking of any of the other schools I found nearby other houses I was looking at in Berlin, New Britain, and West Hartford, just to name a few.

Because I had such a big budget, money was barely an issue, and I found I had many homes to choose from and in a variety of locations. I feel, if this simulation where to put on the web, more comparison between homes and schools available in Hartford, versus homes and schools available in the surrounding suburbs, would make the simulation more effective. I barely noticed the effect that money had on the schooling available to my children. However, that was because I had plenty of money to go around. Perhaps, if I had worked with a smaller sum, I would have realized that many suburban homes and suburban schools would have been off-limits to me. I guess you could say, with so much money to spend, it was difficult for me to understand the plight of some of my other classmates who were limited to areas with poorer school systems.

Knowing how the whole system works, however, I realize that money buys more than a home. It buys access to the local schools and buys the surrounding neighborhood. I was just lucky enough to be able to afford schools and a neighborhood that were excellent.

 

¹“248 Hollister Way West Unit: 248.” Realtor.com. N.p., n.d. Web. 6 Sept. 2012. <http://www.realtor.com/realestateandhomes-detail/248-Hollister-Way-W-Unit-248_Glastonbury_CT_06033_M47782-96479>.

²“How Much House Can You Afford?” Affordable Home Calculator from CNNMoney. N.p., n.d. Web. 07 Sept. 2012. <http://cgi.money.cnn.com/tools/houseafford/houseafford.html>.

³“248 Hollister Way West Unit: 248.” Realtor.com. N.p., n.d. Web. 6 Sept. 2012. <http://www.realtor.com/realestateandhomes-detail/248-Hollister-Way-W-Unit-248_Glastonbury_CT_06033_M47782-96479>.