How to Budget for Your First Home Purchase

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Step 4: Build a Home Fund

Set aside savings not just for the purchase, but for emergencies. Experts suggest keeping three to six months of expenses post-purchase to cover repairs or income changes.

Step 5: Get Pre-Approved

Pre-approval gives you a clear budget and signals seriousness to sellers. Compare offers from multiple lenders — even a 0.5% difference in interest rates can shift affordability dramatically.

Summary

The Takeaway Buying a home requires more than a down payment — it’s a long-term financial ecosystem. Planning ahead turns stress into strategy and makes the dream of ownership sustainable.