Rent or Buy a Home

It's best to develop good ______ now instead of waiting until you're on your own to figure it all out.

• Money habits

• Real estate investments

Tags

CCSS.RL.8.3

CCSS.RL.2.6

Renting is a great option for many people.

• True

• False

Your rent payment should total no more than ______% of your take-home pay.

• 50

• 15

• 75

• 25

Tags

CCSS.6.RP.A.3C

When you're ready to buy a house, the best option is a ______.

• 20-year VA loan

• 15-year fixed-rate conventional mortgage

• 30-year equity loan

• 30-year fixed rate mortgage

What does cost of living refer to?

• How much of your monthly income is budgeted specifically for your rent or mortgage

• The average cost of the basic goods and services needed to maintain a certain standard of living

• How wealthy or poor you are at the time of purchasing your first home

Tags

CCSS.RI.11-12.5

CCSS.RI.9-10.5

CCSS.RI.8.5

CCSS.RI.6.5

CCSS.RI.7.5

Making periodic payments to a landlord for the use of their property is called ______.

• Down payment

• Buying

• Renting or leasing

• Security deposit

Tags

CCSS.RI.11-12.8

CCSS.RI.9-10.7

CCSS.RL.11-12.8

CCSS.RL.8.7

CCSS.RL.9-10.7

You should rent until you are able to ______.

• Buy a home the right way

• Become a landlord someday

• Buy amenities

Tags

CCSS.RL.8.1

CCSS.RI.8.1

CCSS.RI.8.8

CCSS.RL.11-12.1

CCSS.RL.9-10.1

Buying a house while ______ can put your ______ at risk.

• In debt; home purchase

• Getting pre-approved; life

• Debt-free; renter's insurance

• On a budget; social life

Tags

CCSS.RL.8.1

CCSS.RI.8.2

CCSS.RL.11-12.2

CCSS.RL.9-10.2

CCSS.RL.7.1

Living on campus at college will help you ______ living on your own, while living off campus will require you to ______.

• Dive into; live with your parents

• Ease into; pay for rent, utilities, and groceries

• Get used to; cut half of your college courses

• Enjoy; find roommates

Tags

CCSS.RL.8.3

CCSS.RL.11-12.9

CCSS.RL.6.3

CCSS.RL.7.3

CCSS.RL.9-10.3

Your decision to rent or buy depends on your ______.

• Feelings towards renting or buying

• Friends' opinions

• Income tax

• Financial situation

Tags

CCSS.RL.8.1

CCSS.RI.8.1

CCSS.RI.8.8

CCSS.RL.11-12.1

CCSS.RL.9-10.1