Renting vs. Buying a Home

Renting vs. Buying a Home

12th Grade

20 Qs

quiz-placeholder

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Renting vs. Buying a Home

Renting vs. Buying a Home

Assessment

Quiz

others

12th Grade

Easy

Created by

Aspen Farmer

Used 1+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary responsibility of a renter?

Paying property taxes

Maintaining the home's value

Paying rent on time

Replacing the roof

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a key difference between renting and buying a home?

Rent payments contribute to ownership

Buying involves paying property taxes, while renting does not

Renters can make property changes without approval

Homeowners do not pay for maintenance

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a benefit of renting a home?

Building equity over time

No need to budget for maintenance

Freedom to make property changes

Potential to profit from home appreciation

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is equity in the context of homeownership?

The amount borrowed from a lender

The portion of the home owned outright by the homeowner

The value of the land the house sits on

The down payment made by the buyer

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does home appreciation refer to?

The process of paying off a mortgage

An increase in the value of a home over time

The amount of property taxes paid

The amount spent on home maintenance

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a disadvantage of buying a home?

Building equity

Monthly rent payments are fixed

Maintenance responsibilities are on the homeowner

Freedom to make modifications to the property

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a lease agreement?

A contract that outlines the terms of renting a property

A loan for buying a home

An insurance policy for renters

A document showing how much rent a property owner pays

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