How much money should I have saved before buying?
Plan three buckets: your down payment (often 3%–5% of the price), closing costs (roughly 2%–5% more), and a cushion for moving and first-year surprises. You don't need 20% down — and keeping savings after closing matters as much as the amount you bring to it.
Think in three buckets, not one scary number: the down payment, the closing costs, and the cushion. Most first-time buyers who feel "behind" are closer than they think once the buckets are actually named.
Bucket one: the down payment
Many buyers put down 3% to 5% of the price, and some programs allow less — or zero for eligible VA and USDA buyers. You don't need 20%. Here's the full picture on what down payment you really need.
Bucket two: closing costs
Budget roughly 2% to 5% of the purchase price on top of the down payment for Florida closing costs — lender fees, title work, taxes, and prepaid insurance and escrow. Some of this is negotiable, and sellers sometimes help.
Bucket three: the cushion
Moving, window coverings, a fridge, the first surprise repair — the first months of ownership always cost something. A cushion is what makes year one feel comfortable instead of fragile, and draining every dollar to close is the mistake I warn about most.
What that looks like in practice
On a $350,000 home: 5% down is $17,500, closing costs might run $7,000–$17,500, plus a few thousand in reserve — so a target somewhere in the $30,000s. It's less with a smaller down payment or seller help, and potentially much less if you qualify for Florida down payment assistance.
Tell me your price range and I'll help you set a real savings target for it — a number you can aim at beats a vague feeling of "not enough" every time.
This answer is general education, not legal, tax, or financial advice. Your situation is unique — let's talk through the specifics together.