Question

Owning a home entails all of the following expenses except

A) renter's insurance.
B) property taxes.
C) maintenance expenses.
D) lost interest on down payment and closing costs.

Answer 1

Renter's insurance is the correct choice as it is not typically an expense for homeowners, who require homeowner's insurance maintenance expenses, and lost interest are all expenses associated with home ownership.

Step-by-step explanation:

The question asks which of the following expenses is not typically associated with home ownership. Let's examine the options provided:

• Renter's insurance is typically not required for homeowners as they would instead need homeowner's insurance.
• Property taxes are a regular expense for homeowners.
• Maintenance expenses are part of the costs homeowners incur to upkeep their property.
• Lost interest on down payment and closing costs is also a consideration for homeowners as it is the opportunity cost of investing that money in a home.

The correct answer is A) renter's insurance, as it's an expense specific to renting, not owning, a home.