Home Costs Continue After Buying | 🏡 Think you need 20% down to buy a home? Think again! You may qualify with less money down than you think.

When you close on your new home, the financial journey is just beginning—a reality I make sure every client is prepared for. The first year as a homeowner often comes with extra costs beyond your down payment and closing fees. From repairs and alterations to filling those new spaces with appliances and furnishings, it’s important to budget early so there are no surprises down the road. On average, buyers of newly built homes spend $26,900 in the first year after purchase, compared to $18,700 for those buying existing homes. Appliances and equipment account for about $4,300 in new homes and $3,700 in existing ones. Furnishings can be a bigger leap: $8,300 for new construction, $3,900 for existing homes—especially if you’re moving into a larger space. The biggest first-year expense? Alterations and repairs, which average $14,300 for new homes and $11,100 for existing homes. After 26 years helping Texans and Floridians find the right loan, I know a smooth move starts with planning for what comes after the keys are in your hand. Turning 'someday' into move-in day means preparing for every step—including the ones that follow closing.