Which of the following is an advantage of buying your home over renting?

Question

- 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
- you mortgage payments will far exceed the value of your home

Answer 1

The advantage of buying your home over renting is that the amount you pay each month is set by the terms of your mortgage.

Answer 2

mortgage is generally a fixed payment per month until the loan is paid off.
Rent goes up if the market goes up, (or even if it does not).
so
- you do not have to worry about the housing market in your area

Answer 3

Yes, you are correct. Not having to worry about the housing market in your area is indeed an advantage of buying a home over renting. This means that even if property values in your area increase over time, your mortgage payment remains the same and you can benefit from potential appreciation in the value of your home. On the other hand, if you were renting, your rent could increase due to market changes or the landlord's discretion.