Standard 10 Renting Vs. Buying Review

A  room or suite of rooms designed as a residence and generally located in a building occupied by more than one household.

A building complex in which units of property, such as apartments, are owned by individuals and common parts of the property, such as the grounds and building structures, are owned jointly.

A structure serving as a dwelling for one or more persons, especially for a family.

A person who owns property and rents it to another.

A written contract specifying the terms for the use of an asset and the legal responsibilities of both parties to the agreement, such as a property owner and tenant.

A periodic payment for a place to live.

A person who pays rent; the legal name for a renter.

A basic service such as electricity, gas, water, or telephone.

Costs paid when buying a house or real estate.

The part of the purchase price paid in cash up front, reducing the amount of the loan or mortgage.