Practice Quiz

Financial Planner

Category - General Principles of Financial Planning

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If you are expecting to move within two years, what would be the best approach if you are looking for a place to live for those two years?
  1. Buy a new home
  2. Rent a home
  3. Move in with in-laws
  4. Move in with parents
Explanation
Answer: B - If you are expecting to move within two years and are looking for a place to live for those two years it would be best to rent for those two years. This would save funds that would go to down-payment, insurance, points, and moving expenses. If there is an expectation to living in an area for more than 3 - 5 years it may be best to purchase home since monthly expenses are usually more stable than rent.
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