You are to assume the role of a real estate agent. A client is having a difficult time deciding whether to rent or buy a home and has asked for your input.
The client will soon be moving to the area to start a new job – their first professional role after graduating college. The client is a young adult and does not have much in savings but has been pre-approved for a loan to purchase a house.
The client is unsure if purchasing a house is the best option or if renting would be a better choice. The client has asked you to explain:
- Financial reasons younger adults choose to rent instead of buying a home
- Personal reasons younger adults choose to rent instead of buying a home
- Short-term and long-term costs and benefits of renting versus buying a home
The client also wants you to explain rental contract terminology such as lease term, security deposit, grace period and eviction.
