Buying vs Renting

Which of the following is not a basic need? 

• Pool
• Roof
• Bathroom
• Kitchen

A policy that covers a renters personal property against loss by theft, fire, or other hazards. 

• Security Deposit
• Equity 
• Renter's Insurance
• Principal

Fee that covers the cost of any future damage the renter might cause to the unit. 

• Material Resources
• Renter's Insurance
• Security Deposit
• Interest

The fee the lending institution charges the buyer to borrow the money. 

• Principal
• Earnest Money
• Closing Costs
• Interest

Tags

CCSS.7.RP.A.3

A partial payment of cash, at the time of purchase. Usually between 5% and 25% or more of the purchase price. 

• Down Payment
• Equity
• Closing Costs
• Interest

Which statement below is TRUE?

• You will always make more money buying a home than renting.

• Renting could help you save money so that you can invest it in stocks.

When renting, the landlord is responsible for property maintenance.

• True

• False

An advantage of renting is that you do not have the costs associated with owning a home such as property taxes.

• True

• False

As a homeowner, you can lose your home, and your investment in it, if you do not make timely mortgage payments.

• True

• False

In which of the following locations could you find an ad for an apartment?

• local newspaper

• on the internet

• in the phone book

• all of the above