What is the primary responsibility of a renter?

Renting vs. Buying a Home

Quiz
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others
•
12th Grade
•
Easy
Aspen Farmer
Used 1+ times
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20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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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