Personal Finance Courses: Housing

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1.
The current market value of your home, minus what you owe on it, is commonly known as your _________.
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Home equity. Your home equity is the difference between what you own (the current market value of your property) and what you owe on the property.
2.
It is possible to negotiate the rent on an apartment.
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True. Though not all landlords do, some are open to negotiating if it will help them rent a unit.
3.
An amount paid to secure a price agreement is called _______.
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Earnest money. To secure the agreed price, the buyer is expected to give earnest money to the seller to secure the agreement.
4.
An advantage of _______ is that you can build equity.
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Owning a home. When you own a home, the money that you paid on it will be your equity.
5.
Homes always keep increasing in value.
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False. Not always. Over time, the trend is toward growth, but sometimes home values do drop, even for several years in a row.