Have you considered all your costs when preparing to enter home-ownership? Here are some additional considerations, outside of your mortgage payment:

Property taxes. These must be paid periodically to your municipality, either directly or in combination with your mortgage payments.

Utilities. These include heating, electricity, water, telephone, internet and cable.

Home insurance premiums. Make sure you have adequate insurance coverage against fire, theft and liability.

General maintenance. Keep in mind that if you live in a house, you’ll have to cover the costs of general maintenance, snow removal and lawn care. Proper maintenance helps to preserve and even add to your property’s market value.

Knowing you’ve carefully assessed all of the up-front costs and ongoing expenses can help you create a financial plan that will protect your investment for years to come.

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