First-time buyers · Updated October 2026
Your first home: plan beyond the down payment
Agnes Kimathi, REALTOR® · October 30, 2026
Separate upfront and monthly costs
The down payment is only part of your cash needed to buy. Closing costs and prepaid expenses also need room in your budget. Your monthly payment may include principal and interest, property taxes, homeowners insurance and mortgage insurance, plus separate community fees.
Prepare before touring
Start with your priorities, then prepare your financing. A lender can explain loan options and provide estimates for your situation. Use Agnes's buyer calculator to explore scenarios, but treat every figure as a planning estimate—not a rate quote or loan approval.
Leave room for the details
After tours and an offer, inspections and other due diligence help you understand the home before closing. Review insurance, flood-zone status, HOA fees and any CDD assessments. Keep money available for moving and the ongoing needs of homeownership.