5.4.5 Summary of key messages

• Be prepared for extra costs when you buy a new home or renew a mortgage. Budget one to two percent of your purchase price for unexpected costs.
• Consider what insurance, if any, you will need in addition to mortgage default insurance if it is required.
• Ask questions so you can compare the answers from different lenders.

At the end of the module, you will find an Action plan. This is a tool that you can use to track your progress and take the next steps to manage your mortgage successfully in the future. Use the action plan as a roadmap for financial action!