Question

What expenses do you need to budget for if you choose to buy a home? Check all that apply.

Answer 1

Answer:

• A mortgage payment
• homeowners insurance
• property taxes
• a security deposit
• a down payment

Explanation:

In other to purchase/buy a home one will have to budget for all or most of this expenses first before venturing into buying a home. A mortgage payment is to be made by Buyer of a home when he purchases his home with the aid of a mortgage loan if not he shouldn't bother about the expense of paying for mortgage

A home owners insurance policy is taken up by the person buying a home to protect his property from unforeseen damages also a security deposit is like a down payment made when acquiring a mortgage loan to finance the purchase of the home. other forms of expenses like the utility payments and rent payments is the responsibility of the tenants who are to live in the building

Answer 2

Answer:

When you decide to buy a house, you are going to pay several different expenses which include:

• a mortgage payment (unless you have all the money to purchase your house, you will probably need a mortgage to buy it)
• homeowners insurance (like any important property, it is always good to buy insurance)
• property taxes (if you own a house, you must pay taxes for it)
• a down payment (usually the mortgage doesn't cover the full cost of the house, you need to put some of your money also as down payment)
• utility payments (electricity, gas, cable, internet, water)