Nobody Tells You This Before Buying Your First Home

The down payment is the number most first-time buyers focus on. But some expenses come up before closing day. You may pay for a general inspection, a sewer scope or a radon test while you’re under contract. An appraisal may be another expense, depending on your loan.



To give you a sense of scale, a general inspection might cost $400–$750, a sewer scope $150–$250 and a radon test $100–$150. An appraisal for a single-family home may start around $600. These are planning estimates, not fixed prices; the home, provider and transaction will affect your actual costs.

You’ll also typically submit earnest money after your offer is accepted. That can be several thousand dollars, so you need access to it early in the process. It generally goes toward what you owe at closing, rather than being an extra cost on top of the purchase price.

Then there are closing costs, which are separate from your down payment. They can include lender and title fees, homeowners insurance, prepaid taxes and other transaction-specific charges. Your lender can give you an estimate for the particular home and loan you’re considering.

And the spending doesn’t necessarily stop when you get the keys. Moving costs, utility setup and the first few things you want to repair or replace can add up quickly.

None of this is meant to make buying feel out of reach. It’s meant to help you ask a better question than “Do I have enough for the down payment?” Ask, “What will I need to pay along the way, what will I need at closing, and what will I have left afterward?”

Before we start touring, I want you to have that whole picture. A lender can help estimate your cash to close, and we can talk through the other expenses that may apply to the homes you’re considering. Getting approved tells you what you can borrow. Understanding these costs helps you decide what feels comfortable to buy.