Someone may choose to own a car instead of leasing because:
answer
The car can be resold later to make some money back.
question
One reason to buy a home instead of rent a home is:
answer
Homes have the potential to appreciate in value over time.
question
Renting provides _________ flexibility but can lead to _________ costs in the long-term.
answer
Greater; higher.
question
A _________ is generally considered an appreciating asset because it may _________ in value over time.
answer
House; increase.
question
What is a mortgage?
answer
A type of loan used to buy property
question
John would like to move from the suburbs into the city, but the rent in the city is very high. John has found an apartment he really likes, but he can only afford about 60% of the monthly rent. What is the best housing option for John?
answer
Rent the apartment with a roommate
question
Select the statement that is NOT a component of a standard housing lease.
answer
Purchasing homeowner's insurance.
question
Which best describes the benefits of renting a home?
answer
None of the above.
question
Which of the following is NOT a cost typically associated with owning a car?
answer
Wear & Tear fees.
question
Which of the following statements about renting & owning is CORRECT?
answer
An owner has complete responsibility and control over the property.
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