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'Buying a house is one of the biggest financial decisions that a person can make in their lifetime.' (www.dft.ie) (a) Explain how each of the following would influence an individual when choosing a family home: - availability - location - trends in housing development - Leaving Cert Home Economics - Question 4 - 2019
Question 4
'Buying a house is one of the biggest financial decisions that a person can make in their lifetime.' (www.dft.ie) (a) Explain how each of the following would influe... show full transcript
Worked Solution & Example Answer:'Buying a house is one of the biggest financial decisions that a person can make in their lifetime.' (www.dft.ie) (a) Explain how each of the following would influence an individual when choosing a family home: - availability - location - trends in housing development - Leaving Cert Home Economics - Question 4 - 2019
Step 1
Explain how availability would influence an individual when choosing a family home:
Answer
Availability is crucial as it encompasses the financial aspects of purchasing a home. Factors such as rental costs and the increasing demand in urban areas affect an individual's choice. If rental costs are high, buying might become a more attractive option. Additionally, access to financial resources, like loans or savings, influences a potential homeowner's ability to make a purchase. Availability of a property may also depend on specific housing lists, such as social housing or local authority listings.
Step 2
Explain how location would influence an individual when choosing a family home:
Answer
Location plays a central role due to its impact on daily life. Proximity to essential services like schools, shops, and public transportation is vital for convenience. Locations can vary greatly, including urban or rural settings, which can affect lifestyle and long-term investments. Factors such as proximity to family and friends can also affect the decision. Moreover, neighborhood safety and amenities can significantly influence an individual's choice of home.
Step 3
Explain how trends in housing development would influence an individual when choosing a family home:
Answer
Trends in housing development reflect the shifting needs and preferences of buyers. For instance, modern designs may include features such as green spaces, energy efficiency, and new home types. Individuals often seek out homes with communal facilities or environmentally friendly options, which can make a property more appealing. Awareness of these trends helps potential homeowners to make informed choices aligned with future sustainability and market value, ensuring their investment remains sound.
Step 4
State three advantages of household insurance:
Answer
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Provides peace of mind: Household insurance protects homeowners against unforeseen events, ensuring they can recover quickly from losses.
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Protects assets: It covers valuable possessions against theft, damage, or loss, safeguarding the homeowner's investment.
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Comprehensive coverage: Many policies include protection against various risks, such as fire, flooding, and public liability, offering assurance in multiple scenarios.
Step 5
Outline two factors to be considered when choosing household insurance:
Answer
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Value for money: It's essential to compare policies to ensure the coverage provided is worth the cost, factoring in the security of the company and the extent of coverage.
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Specific needs: The homeowner should consider unique circumstances, such as having valuable items that require additional coverage or specific safety measures in place, like alarms and smoke detectors.
Step 6
Describe three ways to reduce pollution to promote a cleaner environment:
Answer
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Utilize renewable energy sources: Transitioning to renewable energy, such as solar or wind power, can significantly reduce dependency on fossil fuels and lower pollution levels.
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Implement energy-efficient practices: Adopting energy-efficient appliances and systems, like heat pumps and energy-saving lighting, reduces waste and minimizes environmental impact.
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Reduce waste through recycling: Promoting recycling and the use of eco-friendly products helps decrease waste in landfills and reduce harmful emissions associated with production and disposal.