Question
Your monthly payments for a house are likely to be as high as rent when you factor in mortgage payments, property taxes, homeowner's insurance, and home repairs.
Question 40 options:
True
False
Question 41 (2 points)
The first step in the home-buying process should be to
Question 41 options:
identify the specific home you want to purchase.
determine a realistic price range of homes you can afford.
compare the cost of buying to renting.
find a good realtor.
Question 40 options:
True
False
Question 41 (2 points)
The first step in the home-buying process should be to
Question 41 options:
identify the specific home you want to purchase.
determine a realistic price range of homes you can afford.
compare the cost of buying to renting.
find a good realtor.
Answers
GPT-4o mini
For Question 40, the answer is **True**. Monthly payments for a house can indeed be comparable to or even exceed rent when considering all associated costs like mortgage payments, property taxes, homeowner's insurance, and maintenance.
For Question 41, the best answer is **determine a realistic price range of homes you can afford**. This step is crucial as it sets the foundation for your home-buying process by understanding your budget before looking at specific homes or engaging with realtors.
For Question 41, the best answer is **determine a realistic price range of homes you can afford**. This step is crucial as it sets the foundation for your home-buying process by understanding your budget before looking at specific homes or engaging with realtors.