12.5 x 6.17 cm (in scale)
Bedroom ~ 12’9 x 12’3
153” x 147”
382.5 x 367.5cm (actual)
12.75 x 12.25 cm (in scale) ← This cannot be true as the first floor
can’t be wider than the ground floor.
I shall put it down to a typing error and
make it the same width as downstairs.
Bathroom ~ above kitchen hence same width.
Area of the rooms
Kitchen ~ 12.5cm x 6.17cm = 77.125 ~ these are the dimensions from the scale plan
This must now be multiplied by 900 for the reasons shown below
Length: 1:30
Area: 12:302
giving: 1:900
Actual 77.125 x 900 = 69412.5 cm2
→ To metres = 69412.5 / 10000 = 6.94125m2
Check by using dimensions given = 3.75 x 1.85 = 6.9375 m2
Lounge ~ 12.5cm x 12cm = 150 cm2 ~ these are the dimensions from the scale plan
150 x 900 = 135000 cm2
→ to metres = 135000 / 10000 = 13.5 m2
Check = 3.75 x 3.60 = 13.5 m2
Volumes of the rooms
Kitchen ~ 12.5cm x 12cm x 8cm = 12000
This must be multiplied by 27000 for the reasons shown below
Length: 1:30
Volume: 13:303
Giving 1:27000
1 m3=1000,000 m3
12000 x 27000 = 32400000
32400000 / 1000000 = 32.4 m3
Check = 3.75 x 3.60 x 2.40 = 32.4 m3
Lounge ~ 12.5 x 6.17 x 8.3 = 642.7
642.7 x 270000 = 17353125
17353125 / 1000000 = 17.35 m3
Check = 3.75 x 1.85 x 2.50 = 17.34 m3
Dimensions for scale drawings
I must now calculate whether or not my original furniture will actually fit into this house. I shall do this by taking the dimensions of the furniture I wish to put into the lounge. I must also calculate the size of the stairs, and as the dimensions are not specified I will use the dimensions of the stairs in my current house.
Scale = 1:30 cm
Stairs ~ 240cm x 90cm
In scale ~ 8 cm x 3 cm
Television ~ 75cm x 30cm
In scale ~ 2.5cm x 1cm
Sofa ~ 150cm x 45cm
I scale ~ 5cm x 1.5cm
Chair = 60cm x 45cm
In scale ~ 2cm x 1.5cm
Fireplace = 117cm x 45cm
In scale ~ 3.9cm x 1.5cm
Cupboard = 120cm x 45cm
In scale ~ 4cm x 1.5cm
Table = 60cm x 30cm
In scale ~ 2cm x 1cm
Using the calculations below, I shall now calculate the carpet required in the lounge:
Carpet needed for sitting room = 13500 = 13.5 m2
Carpet used in sitting room = 96600 = 9.66m2
In this part of the assignment I am going to be investigating buying a house. From using a local paper I will choose a specific house to investigate the cost of. I will then compare this to the national average to ensure I am payment an appropriate amount.
I shall also investigate the salary of my ideal job in order to see if I would actually be able to afford the property. If was to use a mortgage I will then have to calculate appropriate monthly repayments with a specific APR rate which I will find from a building society, and using a spreadsheet I will find out exactly how long it will take me to pay this mortgage off.
After studying the average house prices in and around the Wigton area, it is apparent that the average cost of a local detached house is £61,750 and the average of all property types is £67,052.
The particular house that I have chosen to investigate is priced in the region of £79,950 and is a detached house located at Moorside drive, Carlisle. It has gas central heating, three bedrooms and en-suite shower/WC.
In the future I would ideally like to become a financial adviser. On a website known as workthing.com I have found the national average for such a job which is £46,453.
In this case, as a first time buyer of a house, it would probably be necessary to obtain a mortgage on a house such as this. Most banks and building societies have a similar APR rate. This rate in Cumberland building society is 5.4%. This is the rate I shall use.
To calculate whether or not I can actually afford to purchase the chosen house I shall use a formula used by banks and building societies to work out the maximum amount you can borrow.
Amount =Annual Salary x 3 (for a single income)
= £46,453 x 3 = £139,359
However this method is not particularly appropriate as the repayments will be too expensive. In order to reduce the payments, I shall take three quarters of the maximum loan value:
£139395 x ¾ = £104,546
By using a table given to me, I am able to insert a corresponding number to my APR rate into the formula shown below to work out the monthly repayments I shall use. On the table, my APR rate is not shown therefore will have to use the value corresponding with 5.5%
This will produce monthly repayments of 104546 x 6.21 = £649.23
1000
I will now incorporate this data into a table as shown below:
It is evident that this method is taking far too long so I will process this information in a spreadsheet. I will also compare the time taken to pay off the mortgage by using monthly repayment values both above and below my actual value of £649.23.
By comparing the two graphs produced, it is evident that it is not until around 4-5 years into my mortgage that I actually start to pay off the loan itself. For this initial period I am only paying off the interest on the loan. This is regardless of how high the monthly repayments are, as for the opening years of my mortgage I will only be paying off the interest. Increasing the monthly repayments only means the loan is paid off quicker. Using a monthly repayment of £750 the mortgage is completed after just 218 months. Although I have not printed off the whole spreadsheet using a monthly repayment of £500 as the process was taking far too long and too much paper, it took me over 500 months to complete the mortgage!
Using monthly repayments of £649.23, it has taken me 282 months, that’s 23 and a half years, to complete my mortgage. This just shows how carefully everything must be considered when purchasing a house and opening a mortgage. The price of the house must be considered in relation to your expenditure, annual salary and the lowest possible APR rates should be found. Your monthly repayments must also correspond with how much you can realistically afford.
