Question

John would like to move from the city into the suburbs and has been saving up a large down payment for a home. Which is the most cost effective way for John to buy a house in the suburbs? A

Answer 1

Buying a house in the suburbs is likely to be far less expensive than purchasing one in the town area. Assuming that John is employed, it is advisable for him to take a Home loan from his bank against mortgage of the new house. Part of the large sum that he has been saving up may be used for initial payment and the rest may be used for interior set up, furnishing and other miscellaneous expenses.

Answer 2

I actually took this test on Everfi and got a 100.
The answer is: "Finish the term of his apartment lease in the city and find a new home to purchase simultaneously."