Personal Finance Chapter 7

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The most important factor when buying a home is said to be the home's __________

location

T or F: A security deposit covers the cost of damages that may be done to a rental unit.

True

In the context of the home inspection as part of the home-buying process, identify elements of exterior facilities.

condition of patio it porch appropriate drainage system

Quality of landscaping, trees, and shrubs are part of the:

exterior facilities in a house

What are some of the disadvantages of home ownership?

higher living expenses than renting significant financial commitment limited mobility when compared to renting

Your __________, needs, desires, and attitudes are reflected in your choice of a home.

lifestyle

Early in a person's career, renting is advantageous because renting offers:

mobility

A _______ deposit is usually one month's rent that is held by the landlord to cover the cost of any damages to the rented property.

security

The advantages of owning a home include:

stability of residence tax benefits personalized living location

Renters have fewer responsibilities than home owners because:

tenants are not responsible for maintenance or repairs

The amount of money offered for a home depends on:

the time the home has been on the market features of the home recent selling prices of homes in the area

T or F: Every buying decision is a statement about your lifestyle.

true


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