Living Arrangements of Young Adults

Front

What percent of 18-24 year olds live with their parents?

Back

30%

Front

What is a security deposit in the context of renting an apartment?

Back

Money held by the landlord in case of damage

Front

What is typically included in a lease agreement?

Back

Rent amount, apartment policies, and move-out procedures

Front

What is the difference between a pet fee, pet deposit, and pet rent?

Back

Pet fee is a one-time charge, pet deposit is refundable, pet rent is monthly.

Front

What is the purpose of an application deposit and how does it benefit both the applicant and the owner of the rental property?

Back

It secures the rental property for the applicant and provides immediate income for the owner.

Front

Buying a home achieves which two financial goals at the same time? Providing a place to live, investing for the future

Back

Providing a place to live, investing for the future

Front

Millennials are buying fewer homes than in previous generations for each of these reasons EXCEPT...
They have to self-fund retirement to a greater extent
They are paying down large student loans instead
They prefer to spend money on travel experiences rather than homeownership.

Back

They find apartments to be trendier and more fun.

Front

How much money should you put toward your home's downpayment? Options: Your entire emergency fund, 3 times your monthly expenses, 20% of the price of the home, 5 years' worth of payments

Back

20% of the price of the home

Front

How is it possible someone could pay their mortgage monthly for years without reducing their principal by very much?

Back

In early years, most of the payments go toward interest.

Front

Which bill usually accounts for the largest part of your monthly utility bill?

Back

Electricity