It often costs more if a plumber (or electrician) has to undo your "repairs" before actually performing the repair. Building a shelf, or patching drywall, or changing a lightbulb is one thing - trying to sweat a hot water line to make it fit your new gold plated faucet is another story altogether! Here is a useful do it yourself blog. Yes, there are many things that the King of the Castle can do by himself. Without much risk of damage to himself or to the thing being repaired. Some home improvement stores offer do it yourself classes - it can be fun and fulfilling, not to mention cost saving. And lest any charges of chauvinism fly, yes, women too are very good with tools and home (could be a house or apartment) repairs/improvements! (continued below)

While on the topic of mortgage payments, here is a little known secret that no bank will ever tell you about. With each monthly mortgage payment, make an additional payment equal to at least the principal amount contained in that payment - apply it against the principal of the loan. This will reduce your mortgage period by HALF, that is, a 30 year mortgage will be paid off in 15 years! As an example, if a monthly mortgage payment is $2000 and consists of $1100 interest + $200 escrow + $700 principal; make an additional $700 principal payment to cut your mortgage period in half. Be careful though, banks will try to be sneaky and apply any extra payments toward the LAST payment (therefore continuing to charge you interest on the paid off portion). Always check monthly statements and fight to have your extra principal payments recorded correctly. If more money is available, such as after a good tax return, you could apply more money to the principal amount of the loan. It saves you (or they) a ton of money over the lifetime of the loan by reducing the interest amount.

PMI (Private Mortgage Insurance) is a scam insurance payment that you are forced to make, if you pay down less than 20% of your home value. It offers absolutely no benefit to you. Your monthly mortgage payment will include this amount, if so deemed by the bank, along with the PITI amounts. Note that after you have paid off about 20% of your home value, the morgage bank is required by law to drop the PMI requirement. Often the value of the property appreciates, making this possible in a few years. You may be required to pay for a property appraisal to prove this, the bank wants your PMI to continue as long as they can drag it out. (continued below)

Depending on the age and condition of the home you are buying, you will also have to budget for ongoing repairs and/or home improvements. Older homes are cheaper to buy, but they will require more repairs. Newer homes are more expensive, but (usually) require less repairs. Plumbing, electrical wiring, roofs, boiler/heater/appliances, driveway/sidewalk concrete, drywall and paint; usually require expensive repairs in older homes. Even if the condition of these items is good at the time you are buying older homes, they will likely deteriorate over time - so be sure to keep this in mind and budget for repairs.