Personal Finance Chapter 7
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
