To buy or to rent? – level 1

To buy or to rent?

26-10-2026 15:00

Twin sisters Morgan and Lisa move into the same kind of house. Morgan buys her home. Lisa rents hers.

Morgan must pay a lot of money in the beginning. She repairs the house when things break. After 30 years, Morgan pays off her home loan, and her house becomes worth a lot of money. She buys the house for 400,000 dollars. After 30 years, she can sell it for 1.3 million. Lisa pays rent every month. She does not pay for repairs. She saves money. She has a retirement account. After 30 years, she pays 900,000 dollars for rent. But she has 500,000 in her retirement account.

In the end, Morgan makes more money by buying. But Lisa is free to move. She can spend on hobbies, not a house.

Difficult words: twin sister (a girl who is born at the same time to the same mother as another child), rent (the money which you pay when you live in someone’s house or flat), retirement account (an account where you save money for the time after finishing work).

You can watch the original video in the Level 3 section.

After 30 years, how much did Morgan pay for her house, for how much could she sell it, and how much had Lisa paid in rent and saved in her retirement account?

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