2025 Guide | The Real Cost of Buying Your First Home in Washington
Buying your first home in Washington is one of the biggest financial steps you'll take, and understanding the true cost can help you avoid surprises along the way. While the down payment tends to get the most attention, several additional expenses play a major role in your upfront and closing costs. This guide breaks down each one so you can plan confidently.
Earnest Money (Typically 1–3% of the Purchase Price)
Earnest money is the amount you put down when a seller accepts your offer.
In Washington, this is typically 1%–3% of the purchase price and is due within a few days of mutual acceptance.
The good news? It’s credited back to you at closing toward your down payment or closing costs. Because it’s refundable within your contingency timelines, it’s one of the safest upfront expenses you’ll make.
For buyers planning to purchase and sell later, understanding timelines helps.
➡️ Related: How Do I Coordinate Buying and Selling at the Same Time in Washington?
Down Payment (0%–20% Depending on Loan Program)
Down payment amounts vary depending on your loan type:
0% VA loan (eligible service members & veterans)
0% USDA loan (rural-eligible areas)
3–5% Conventional
3.5% FHA
Down Payment Assistance programs
Most first-time buyers in Washington purchase with 3%–5% down, not 20%.
If you’re still evaluating what you qualify for, this may help:
➡️ Related: What Credit Score, Down Payment & DTI Do I Need to Buy a Home in WA?
Closing Costs (Typically 2%–3% of the Purchase Price)
Closing costs are separate from your down payment and generally cover:
Loan origination fees
Escrow & title
Appraisal
Credit report
Recording fees
Prepaid taxes & insurance
In Washington, average closing costs are 2%–3% of the purchase price.
On a $500,000 home, that’s typically $10,000–$15,000.
Depending on the market, seller credits or lender incentives may help lower these costs.
Inspection Costs ($500–$1,200)
Inspections are paid out-of-pocket and offer peace of mind before committing fully.
Common inspection fees in WA include:
Home inspection: $450–$700
Sewer scope: $250–$350
Septic inspection: $400–$1,000
Pest inspection: $100–$200
These evaluations help you understand the home’s condition and prevent costly surprises.
Appraisal Fee ($600–$900)
Your lender orders an appraisal to confirm the home’s value, but you pay for it.
This typically ranges from $600–$900 depending on the county and property type.
Homeowners Insurance ($700–$1,500 Annually)
Insurance costs vary by home size, age, roof condition, and risk factors in your location.
Most first-time Washington buyers pay about $60–$120 per month.
Property Taxes (Pro-Rated Based on Your Closing Date)
Washington property taxes vary by county and district.
You’ll typically pay a pro-rated portion at closing—your share from the date you take ownership through the end of the tax period.
If you're comparing how taxes fit into your monthly payment, this may help:
➡️ Related: How to Price Your Home Right in Today’s Market
HOA Fees (If Applicable)
If you choose a condo, townhome, or certain neighborhoods, expect HOA dues.
These may include:
Monthly fees: $200–$600
Move-in fees: $150–$350
Transfer fees: $100–$500
HOA coverage ranges from exterior maintenance to shared amenities depending on the community.
Moving Costs ($500–$2,500)
Plan for the cost of packing, transportation, movers, and utility deposits.
Moving expenses vary greatly depending on distance, time of year, and how much you’re bringing with you.
After-Closing Costs (Often $1,000–$3,000 in the First 90 Days)
These aren't official “fees” but are unavoidable expenses for most first-time homeowners:
Rekeying locks
Basic yard tools
Appliances (if not included)
Curtains/blinds
Minor repairs
Smoke detectors
Paint or décor
Expect to spend $1,000–$3,000 within the first couple of months of homeownership.
For a look at more hidden fees first-time buyers encounter, read:
➡️ Related: Hidden Costs of Buying a Home in Washington
Estimated Total Cost for a $500,000 Home in Washington
Upfront before closing:
Earnest money: $5,000–$15,000
Inspection: ~$600
Appraisal: ~$700
At closing:
Down payment (3%): $15,000
Closing costs (2.5%): ~$12,500
Total Estimated Cash Needed:
$33,100–$43,800
Many buyers bring in less through VA, USDA, seller credits, or down-payment assistance.
Final Thoughts
Understanding the true cost of buying your first home in Washington helps you plan with confidence. When you know what to expect, you can budget accurately, reduce stress, and move through the homebuying journey without unexpected surprises. With the right guidance and preparation, your first home can be a smooth, empowering experience.
If you're planning to buy your first home in Washington and want help understanding your numbers, your loan options, or your best next step, I’m here to guide you with clarity and support. Reach out anytime — I’d love to help you get started.
Written by: Lani Fisher, Washington Realtor & First-Time Homebuyer Specialist