Most people shoot for a 20% down payment. This qualifies you for a conventional loan without private mortgage insurance – insurance that protects lenders if you default – which means you’ll pay less on your monthly mortgage bills. Different loans have different minimum down payments, and some have no down payments, so research your options.

This includes settlement fees, title and transfer fees, loan origination fees, and other fees that don’t go toward building equity in your home. Total closing costs range from 2 to 5 percent of the value of the home and average in the $3,000 to $4,000 range. You can sometimes get the seller to pay some or all of the closing costs as part of the negotiations—this is called “seller assist.”

This is the incidental stuff you’ll need to pay for: home inspections, movers, handyman repairs, etc. Home inspection costs vary by state—for instance, in New York City averages $1,025 while Austin, Texas averages $452, which is closer to the national average of $473 according to Angie’s List. Home repairs vary by the age and size of the house, but HGTV recommends setting aside 1 to 3 percent of the value of the home each year for repairs.