The front page has 8 widget areas - Header Right (on all pages), Home Welcome, Search Bar, Home Featured 1, Home Featured 2, Home Featured 3, Home Listings, Home Communities.
These have all been set up for you, if you used the One-Click Theme Setup.
You can edit each widget area from Appearance > Customize > Widgets, or also from Appearance > Widgets.
If you don't want to use a particular widget area, don't add any widgets, and it won't show on your front page.
Of course, all widget areas can be customized with your choice of widgets, although some styles may need adjusting.