Chapter 34: Buying a House
Chapter Overview: Ready to Learn?
There are advantages and disadvantages to home ownership. The key advantage is your ability to do with your home as you wish without having to answer to another owner. The inconvenience and cost of upkeep, as well as the inability to move easily and quickly are disadvantages to home ownership. There are many choices available in selecting a home: single and multifamily, mobile homes, cooperatives, and condominiums. The process of buying a home requires you to enter into a purchase and sales agreement with the seller. For your own protection, you should have a lawyer review the agreement. Then you will have to apply for and obtain a mortgage. As you study the chapter, you will learn about various housing alternatives and the home-buying process.
Legal Web Links: Need to Know More?
Surf the Internet for legal Web links.
A consumer advocate Web site providing tips on buying a new or used home.
Self-Check Quizzes:Test Tomorrow?
Test your knowledge of chapter material with a self-check quiz.
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