Personal Finance 1st Edition by Jack R. Kapoor

Exercise 17

1 What are the advantages and disadvantages of owning a home?

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2 What guidelines can be used to determine the amount to spend for a home purchase?

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3 How can the quality of a school system benefit even homeowners in a community who do not have school–age children?

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4 What services are available to home buyers from real estate agents?

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5 How does a seller’s market differ from a buyer’s market?

Action Application Talk with a real estate agent about the process involved in selecting and buying a home. Obtain information about housing prices in your area and the services the agent provides.

Step 1 of 5

1. The advantages of owning a home are pride of ownership, financial benefits, and lifestyle flexibility. Disadvantages are financial uncertainty, limited mobility, and higher living costs.