The following publication is reprinted with permission from Consumer Action.
The Keys to Homeownership
You Can Buy a Home
Buying a home is one of the most important purchases you'll ever make. Owning your own home helps you build wealth, save on taxes and become your own landlord. But you need to be aware of and prepared for the costs of homeownership in time, effort and money.
The cost of owning a home includes more than your monthly mortgage payment. You must pay for property taxes, insurance, maintenance costs and emergency repairs.
Insurance and an emergency savings account are vital to homeownership. Homeowner's insurance covers damage to your house, your possessions, and your liability to other people who've been injured on your property. Many homeowners without insurance have lost everything when disaster strikes.
Consumer Action's Housing Information Project created this brochure in partnership with Capital One Services, Inc. © 2007 Consumer Action. Rights Reserved.