Question
Which is an advantage of purchasing and owning a home?
(1 point)
Responses
Homeowners have less control and choice in their lodging than other housing options.
Homeowners have less control and choice in their lodging than other housing options.
Owning a home provides a partial tax shelter for housing related expenses.
Owning a home provides a partial tax shelter for housing related expenses.
An individual assumes all responsibility for maintenance and repair of owned property.
An individual assumes all responsibility for maintenance and repair of owned property.
Property taxes are an opportunity to grow equity.
(1 point)
Responses
Homeowners have less control and choice in their lodging than other housing options.
Homeowners have less control and choice in their lodging than other housing options.
Owning a home provides a partial tax shelter for housing related expenses.
Owning a home provides a partial tax shelter for housing related expenses.
An individual assumes all responsibility for maintenance and repair of owned property.
An individual assumes all responsibility for maintenance and repair of owned property.
Property taxes are an opportunity to grow equity.
Answers
GPT-4o mini
The advantage of purchasing and owning a home is:
**Owning a home provides a partial tax shelter for housing-related expenses.**
This is typically considered an advantage because homeowners may benefit from tax deductions related to mortgage interest and property taxes, which can reduce their overall tax liability.
**Owning a home provides a partial tax shelter for housing-related expenses.**
This is typically considered an advantage because homeowners may benefit from tax deductions related to mortgage interest and property taxes, which can reduce their overall tax liability.