Which of the following is an
advantage of buying your home over renting?
(1 point)
You do not have to
• worry about the housing market in your area.
The amount you pay
• each month is set by the terms of your mortgage.
If something breaks, you
• have to fix it or pay to have it fixed.
Your mortgage payments will far
exceed the value of your home.
The advantage of buying your home over renting is that the amount you pay each month is set by the terms of your mortgage.
The advantage of buying your home over renting is that the amount you pay each month is set by the terms of your mortgage.
The advantage of buying a home over renting is:
1. You do not have to worry about the housing market in your area: When you own a home, you are not affected by fluctuations in the housing market. The value of your property may increase over time, allowing you to build equity. In contrast, when you rent a home, the cost of rent can increase based on market conditions, which may result in higher expenses for you.
To determine which of the options is an advantage, you can evaluate each statement. In this case, the first option is the correct one since it mentions not worrying about the housing market in your area. The other options, such as the amount you pay each month being set by the terms of your mortgage, having to fix or pay for repairs, and mortgage payments potentially exceeding the value of your home, do not represent advantages of buying a home over renting.