Renting vs. Buying

Front

What is renters insurance?

Back

An inexpensive and smart purchase for anyone who rents a place to live.

Front

What is the monthly payment called when you buy a house?

Back

Mortgage.

Front

What is a key question to ask when deciding whether to rent or buy?

Back

How long will you live there?

Front

Define landlord.

Back

A person who owns and rents property to another.

Front

What should be included in a lease before signing?

Back

The amount of the rent and how and when it must be paid.

Front

What is a down payment?

Back

An initial payment made when buying a property, typically a percentage of the purchase price.

Front

What are closing costs?

Back

Fees and expenses paid at the closing of a real estate transaction.

Front

What is a security deposit?

Back

A sum of money held by a landlord to cover potential damages or unpaid rent.

Front

What is the difference between renting and buying?

Back

Renting involves paying for the use of a property, while buying involves purchasing the property and gaining ownership.

Front

What is a lease?

Back

A legal agreement between a landlord and tenant outlining the terms of renting a property.