All of the following are TRUE about purchasing a home EXCEPT

Question

Quizplus · Accepted Answer

A home is probably the largest purchase you will ever make in your life, and it is one of the best investments you can make. With a small up-front investment (your down payment) and relatively low borrowing costs, modest appreciation in the home's value can generate a large return on investment. This return benefits from the tax deductibility of home mortgage interest and capital gains tax relief at the point of sale. To top it off, you have a place to live and thus save any additional rental costs you would incur if you invested your money elsewhere. However, owning a home is not necessarily the best choice for everyone. The decision on when and how to buy a house and how much to spend must be made based on a careful examination of your ability to pay the mortgage and to cover the time and expense of maintenance and repair.

All of the Following Are TRUE About Purchasing a Home