Renting vs. Buying a Home

Front

A security deposit covers the rent for the first month when moving into an apartment.

Back

False

Front

A ___________ deposit refers to money held to cover possible damage in an apartment.

Back

Security

Front

The agreement between a renter and a landlord is:

Back

Lease

Front

Buying a home will usually have fewer costs then renting. True or False?

Back

False

Front

A common disadvantage of buying a home is:

Back

Limited mobility

Front

The amount of a mortgage a person can afford is affected by: The location of the house, Her or his income, The cost of insurance, Her or his age

Back

Her or his income

Front

A larger down payment will reduce the amount of the mortgage needed.

Back

True

Front

A common moving-in cost for an apartment would be: A down payment, Building insurance, Real estate taxes, A security deposit

Back

A security deposit

Front

A roommate may reduce the financial burden of renting an apartment.

Back

True

Front

The home-buying process starts with:

Back

Determining homeownership needs.