Renting vs Buying

Quiz
•
Social Studies
•
12th Grade
•
Hard
John Robinson
FREE Resource
25 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What analogy does the reading use to compare term and whole life insurance?
Renting (term) vs. buying (whole)
Short-term loans (term) vs. long-term loans (whole)
Leasing a car (term) vs. owning a car (whole)
Temporary jobs (term) vs. permanent jobs (whole)
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is a common financial advantage of renting a home compared to buying?
Lower upfront costs
Building equity
Property appreciation
Tax benefits
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is a potential disadvantage of buying a home?
Lack of stability
No tax benefits
High maintenance costs
Limited customization
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
In terms of mobility, what is a benefit of renting over buying?
Easier to relocate
Higher resale value
More tax deductions
Increased property value
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is a typical long-term benefit of buying a home?
Building equity
Lower monthly payments
No maintenance responsibilities
Flexibility to move
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is a common reason people choose to rent rather than buy?
Desire for stability
Lower initial costs
Investment potential
Pride of ownership
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is a potential risk of buying a home?
Rent increases
Property depreciation
Lack of flexibility
No equity building
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