Renting a Home Quiz

There’s a lot to consider when renting an apartment. The renting step-by-step guide on My Home by Freddie Mac® has information and resources to help you navigate the process with confidence.

Start by educating yourself about the considerations for renting versus buying, what you can afford to rent, your credit as a renter and renting with the goal of buying. Then, test your knowledge with this quiz.

1

Which of the following is a common reason people give for preferring to rent a home?

Not having to pay for maintenance costs and repair bills is one of the top reasons people give for preferring to rent a home.

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2

Which of the following is a common reason people give for preferring to own a home?

The opportunity to build equity is one of the top reasons many people prefer to own a home.

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3

Which of the following is NOT a potential cost associated with renting?

Renters do not need to pay property taxes. However, there are other fees associated with renting that you should be aware of such as potential pet fees.

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4

What should you do now if you plan to become a homeowner?

All of the above. It's best to take all of these steps BEFORE you even start looking for your ideal home.

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5

If you have no credit history, what should you do to help establish one?

Obtaining secured or store credit cards is a good way to establish credit if you have no credit history. Be sure to use the card responsibly and only borrow what you can afford to repay.

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Excellent job! You’re well on your way to being an informed renter.

You’re off to a good start. You may benefit from looking further into our Renting section to become an even more informed renter. Knowledge is power!

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