06/26/2026
So you're ready to buy a home. But before you start touring listings, let's talk about the cash you'll actually need before closing day.
These are the upfront, out-of-pocket costs — separate from your down payment — that catch a lot of first-time buyers off guard. Here's the breakdown:
💰 Earnest Money Deposit — typically 1% of the purchase price
This shows the seller you're serious once your offer is accepted. It gets applied toward your purchase at closing — it's not an extra cost, just money you put down early.
🔍 Home Inspection — around $500
This is your chance to know exactly what you're buying before you're locked in. Roof, plumbing, electrical, HVAC — all of it gets checked. Money well spent, every time.
📋 Appraisal — typically $400–$700
Your lender requires this to confirm the home is worth what you're paying. It protects you just as much as it protects them.
None of these are optional, and none of them are refundable in most cases — which is exactly why I walk every buyer through this before we even start looking at homes. No surprises. No "wait, I needed how much cash today?"
Buying a home is a big financial decision, and you deserve to understand exactly what you're walking into — line by line.
Have questions about what your specific upfront costs might look like? Let's talk it through.
