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Renting Vs Buying A Home

The document discusses the pros and cons of renting versus buying a home, highlighting flexibility and low maintenance costs for renting, while emphasizing equity building and stable mortgage payments for buying. It also outlines the steps to purchase a house and key considerations when signing a lease. Additionally, it explains what a home warranty is, along with its advantages and disadvantages.

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kenc70179
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24 views3 pages

Renting Vs Buying A Home

The document discusses the pros and cons of renting versus buying a home, highlighting flexibility and low maintenance costs for renting, while emphasizing equity building and stable mortgage payments for buying. It also outlines the steps to purchase a house and key considerations when signing a lease. Additionally, it explains what a home warranty is, along with its advantages and disadvantages.

Uploaded by

kenc70179
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Renting vs Buying a Home

1.​ Warm Up- Would you rather rent or buy a home? Why or why not?

I would rather rent because there more flexibility financially

2.​ What are 2 Pros and 2 Cons of Renting?

Pros Cons
1.​ Usually no or low 1.​ No tax benefits
maintenance costs 2.​ Lack of stability
2.​ Flexibility

3.​ What are 2 Pros and 2 Cons of buying a home?

Pros Cons
1.​ You can build equity of 1.​ Responsible for
your home maintenance and repairs
2.​ Mortgage payment will which can be expensive
remain stable as long as 2.​ Higher cost
you own your home
4.​ What are 2 Pros and 2 Cons of Having a Roommate?

Pros Cons
1.​ Splitting the cost of rent 1.​ They may miss payments
and utilities 2.​ Less privacy
2.​ You can share furniture

5.​ What Steps do you need to take to purchase a house

1.​ Check credit score

2.​ Determine how much you can afford

3.​ Find a real estate agent

4.​ Start shopping for a home

5.​ Make an offer

6.​ Agree on a deal and apply for mortgage

7.​ Get a home inspection and home appraisal

8.​ Buy homeowner’s insurance

9.​ Do a final walkthrough

10.​ Close on new home


6.​ What things should you look for when signing a lease?

1.​ Rent amount and due date

2.​ Terminating and renewing

3.​ Guests

4.​ Subletting

5.​ Maintenance responsibilities

6.​ Pets

7.​ Renters insurance

7.​ What is a Home Warranty? Pros vs Cons of purchasing a home


warranty.

A plan that protects the appliances and systems in your home like
major home appliances, electrical, plumbing, and HVAC systems.

Pros:
1.​ Flat fix rates help you save money
2.​ Coverage for older appliances

Cons:
1.​ Most home warranties exclude some repairs
2.​ They may cover repairs instead of replacements

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