Planning for Living and Leisure Expenses

One disadvantage of renting a home is __________________________, which directly affect what the renters can and can’t do in and around the house.

• high mortgage rates

• use restrictions

• changing property values

Renting provides consumers the benefit of ______________________.

• lower taxes

• lower interest rates

• lower insurance costs

Trixie is considering renting an apartment. She will need to make a _______________, which the landlord will return 21 days after the end of the rental agreement. She will also need to fill out a _____________________ form.

Select the two best answers.

.

• down payment

• deposit

• withdrawal

• mortgage document

• rental application

Faylene wants to buy a home. She has looked at the housing market. Now she needs to find a _________________ to become _________________ for a mortgage. By doing so, Mischa will know how much she has to spend on a house.

Pick the pair that best fits the blanks.

• real estate agent, wait listed

• lender, prequalified

• closing company, credit checked

• title company, eligible

The advantages of renting a home are _______________ and _______________.

• lower repair costs

• tax benefits

• lower insurance costs

• fixed mortgage payments

The advantages of buying a home are _______________ and _______________.

• lower repair costs

• tax benefits

• lower insurance costs

• fixed mortgage payments

Choose the term matching the statement: A consumer gets a brand new car for half its purchase price.

• leasing a vehicle

• renting a home

• purchasing a home

• purchasing a vehicle

Choose the term matching the statement: A pipe breaks, but the consumer doesn’t have to fix it.

• leasing a vehicle

• renting a home

• purchasing a home

• purchasing a vehicle

Choose the term matching the statement: A consumer drives a car on a cross-country road trip covering 20,000 miles.

• leasing a vehicle

• renting a home

• purchasing a home

• purchasing a vehicle

Choose the term matching the statement: A consumer builds a pool in the backyard.

• leasing a vehicle

• renting a home

• purchasing a home

• purchasing a vehicle