EverFI - Week 6 - "Renting Vs. Owning"

Which of the following statements about renting & owning is CORRECT?

Select the statement that is NOT a component of a standard housing lease.

Which best describes the benefits of renting a home?

Which combination of factors would result in the lowest monthly mortgage payment?

John would like to move from the city into the suburbs and has been saving up a large down payment for a home. Which is the most cost effective way for John to buy a house in the suburbs?

Renting provides _________ flexibility but can lead to _________ costs in the long-term.

Which of the following is NOT a cost typically associated with owning a car?

What is a mortgage?

A _________ is generally considered an appreciating asset because it may _________ in value over time.

Someone may choose to own a car instead of leasing because:

Owning provides _________ flexibility but can lead to _________ costs in the long-term.

Jim wants to buy a car, but he'll probably only need it for a couple of years. He has a short commute to work, so he won't be putting many miles on his vehicle. What's the best transportation option for Jim?

Jim is in the market for a car that will last for the next 10 years and has saved up some money for the purpose of a car. What's the best transportation option for Jim?

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?