Question Which is a disadvantage of purchasing and owning a home? (1 point) Responses An individual assumes all responsibility for maintenance and repair of owned property. An individual assumes all responsibility for maintenance and repair of owned property. An individual has more freedom and choice for owned property than rented lodging. An individual has more freedom and choice for owned property than rented lodging. An individual pays less in property taxes as a homeowner than a renter. An individual pays less in property taxes as a homeowner than a renter. An individual builds equity by owning a home.
1 answer
The correct response indicating a disadvantage of purchasing and owning a home is:
An individual assumes all responsibility for maintenance and repair of owned property.
This statement reflects the reality that homeowners are responsible for all repairs and maintenance costs, which can be a significant burden compared to renting, where landlords typically handle those responsibilities.
