Personal Finance Courses: Housing

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1.
An amount paid to secure a price agreement is called _______.
Choose wisely. There is only one correct answer.
Earnest money. To secure the agreed price, the buyer is expected to give earnest money to the seller to secure the agreement.
2.
Which of the following is more likely to have predictable housing expenses?
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A renter. Renters do not get hit with unexpected expenses, as owners sometimes do.
3.
A person whose job it is to help people find an apartment to rent is called _______.
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A rental agent. Rental agents find apartments for people to rent.
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.
Choose wisely. There is only one correct answer.
False. Not always. Over time, the trend is toward growth, but sometimes home values do drop, even for several years in a row.