Real Estate Basics
The person who helps you buy or sell a home.
What is a real estate agent?
A tall building with many units where people live.
What is an apartment building?
The person who rents from a landlord.
What is a tenant?
The money you earn from renting out property.
What is rental income?
The money you pay each month for your house loan.
What is a mortgage payment?
A home you buy just to use on vacations.
What is a vacation home?
The yearly fee you pay to the city for owning property.
What are property taxes?
Buying a house, fixing it up, and selling it quickly for profit.
What is house flipping?
The first big payment you make when buying a house.
What is a down payment?
A home built for just one family.
What is a single-family home?
When you stop paying your mortgage and the bank takes the house.
What is foreclosure?
The term for a home rising in value over time.
What is appreciation?