Focus On Personal Finance
6th Edition
ISBN: 9781260091939
Author: Kapoor
Publisher: Mc Graw Hill Education (Uk)
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Question
Chapter 7, Problem 1RLPF
Summary Introduction
To discuss: The reasons on whether Person B benefit from buying a home that requires improvements.
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Under what circumstances would you consider buying or renting a house?
what factors influence home affordability and
whether the purchase of a home is realistic?
For each, provides details as to why it is
included on the lost
Compare the advantages of renting to buying. Why is it not always better to buy a house then to rent a house?
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- In the context of home insurance coverage, it is correct to say that: * If damage from a fire or other event prevents the use of our home, the personal property coverage pays the cost of living in a temporary location while our home is being repaired. The main component of homeowner's insurance is protection against financial loss due to damage or destruction to a house or other structures. The additional living expenses coverage is related to the coverage of our household belongings, such as furnitire, appliances, and clothing. None of the other asnwers is correct.arrow_forwardHow would a renters insurance policy help protect your property? What do such policies cover? How much would it cost you to insure against the look loss of just your laptop or desktop computer?arrow_forwardWhat are some of the possible consequences should a home owner allow the policy to lapse?arrow_forward
- Why do insurance companies offer discounts on new houses opposed to old ones?arrow_forwardShould Janet’s Bakery purchase the new oven? Provide support for your answer.arrow_forwardWhy does a house broker usually recommend her clients the median house price in a community but not average price?arrow_forward
- Can someone give me their input on this question please. Discuss housing affordability in general. When researching your response consider the following: personal income, housing prices, mortgage rates, nonmortgage expenses, and also personal/mental/social positives and negatives of owning vs renting.arrow_forwardAlthough the selection of housing is usually based on life situation and financial factors, we should also consider what we might have to give up. In this context, it is correct to say that: * One of the main advantages of owning a previously owned house is the fewer responsability for maintenance. One of the main advantages of renting an apartment is the pride of ownership. One of the main disadvantages of owning a manufactured home (mobile home) is to be more expensive than other ownership options. The lost earnings from interest on the money used for a down payment on a home is an important opportunity cost when we decide to buy a house or make a mortgage.arrow_forwardPropose ethical suggestions to reduce estate tax and gift taxes on property transfers.arrow_forward
- What type of property insurance would cover injury to a repairperson on your property? A. Additional living expenses coverage B. Damage to home or property insurance cover C. Personal liability coveragearrow_forwardWhy should you be concerned with retirement and estate?arrow_forwardWhat are the key principles underlying both conventional and Islamic home financing techniques? Who retains the title to the property in each transaction? What are the Shariah rules applied in the case of home finance?arrow_forward
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