Question

what expenses do you need to budget for if you choose to buy a home? check all that apply. a mortgage payment a rent payment homeowners insurance renters insurance property taxes a security deposit a down payment utility payments

Explanation:

• A mortgage payment is required for homeownership as it's the loan repayment for the home.
• Homeowners insurance protects the home, so it's a home - buying expense.
• Property taxes are levied on homeowners, so they need to be budgeted.
• A down payment is the initial payment when buying a home.
• Utility payments (like water, electricity) are ongoing costs for a home.
• Rent payment and renters insurance are for renters, not home buyers. A security deposit is also for renters (to hold the rental property).

Answer:

a. a mortgage payment
c. homeowners insurance
e. property taxes
g. a down payment
h. utility payments