A new home is at once your greatest asset and your greatest expense. It's important to think about how your new mortgage fits in with your overall financial strategy, and how to safeguard your investment. To help, here are some common questions:
- Did You Know...?
The national median existing-home price was $148,100 in September 2001. The median price of a new home in September 2001 was $162,400, says the National Association of Realtors in the Real Estate Intelligence Report. The mortgage is just the beginning. Don't forget to factor in property taxes, routine maintenance costs, emergency repairs, higher utility bills, and renovations.
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