Buying Your First Home Together

Homeownership is often one of the first major financial decisions a newly married couple faces. In 2025, the average home buyer paid $409,200 for a house. Even though you will borrow most of that amount, you will still need between 3% and 20% in cash for a down payment – that’s $12,280 to $81,840 – plus another 3% to 6% in closing costs, which adds another $12,280 to $24,600. These are substantial amounts that require planning well ahead of the purchase.

Many couples begin with a “starter” home – a smaller, less expensive property bought early in a marriage with the expectation of selling in a few years as income grows or family size increases. The strategy makes sense when approached realistically, but it requires an honest assessment of what you can afford now, not just what you hope to afford later.