As a first-time home buyer, it is important to understand all the costs associated with buying a new home. Sometimes new home buyers think that just paying their down payment is good enough. There are other closing costs required when purchasing a new home that people often do not consider before they make this big decision. Later down the road, being presented with high bills you are not expecting to pay can sometimes come as a bit of a shock. If you are in the process of buying a new home, it is important to do your research and get educated with all the necessary costs that come with buying a home.