Renting vs. Owning

One reason to buy a home instead of rent a home is:

• Homes have the potential to appreciate in value over time

• Homes have few maintenance costs

• Buying a home requires less money upfront

• Buying a home is a more flexible housing option

John would like to move from the suburbs into the city, but the rent in the city is very high. John has found an apartment he really likes, but he can only afford 60% of the monthly rent. What is the best housing option for John?

• Purchasing a home in the city center instead

• Rent the apartment anyway

• Rent the apartment with a roommate

• Purchase a home in the suburbs instead

All of the following components are commonly found in rental housing agreements EXCEPT:

• Whether the renter can have pets in the house

• How much the renter will pay

• What type of renter's insurance the renter must buy

• Which repair types the renter will be responsible for

All of the following are costs associated with owning a car EXCEPT:

• Fuel

• Insurance

• Repairs

• Wear & Tear Fees

All of the following are rights of the tenant EXCEPT:

• Withhold rent if the landlord doesn't make repairs in a reasonable amount of time

• Safe and sanitary premises

• No change in terms and conditions of the length of the lease

• Paying rent on time

All of the following are responsibilities of the tenant EXCEPT:

• Paying rent on time

• Taking reasonable care of the property

• Giving notice if leaving at the end of the lease

• Withholding rent if the landlord doesn't make repairs in a reasonable amount of time

All of the following are the landlord's rights EXCEPT:

• Charging extra if the rent is late

• Keeping part or all of the security deposit

• Charging rent through the length of the lease even if you aren't living on the premises

• Making repairs in a reasonable about of time

All of the following are the landlord's responsibilities EXCEPT:

• Making repairs in a reasonable amount of time

• Keeping premises safe and sanitary

• Collecting rent

• Charging extra if the rent is late

VIN stands for

• Vehicle Identification Number

• Very Important Number

• Vehicle Identity Name

• None of the Above

When test driving a car, you should do all of the following EXCEPT:

• Drive a variety of roads

• Drive 10 minutes or 10 miles

• Blast the radio to make sure it has a good system

• Listen for noises