08/31/2026
How much should you save before buying a home?
One of the most common questions I hear is, "How much money do I actually need before I can buy?"
The answer is different for everyone, but one thing is always true:
It's about more than just the down payment.
Before you start your home search, it's a good idea to have a plan for these five areas:
💰 1. Down Payment
Your down payment will depend on the purchase price of the home and the type of mortgage you're using. Understanding your options is the first step.
📑 2. Closing Costs
In addition to your down payment, you'll also need funds for legal fees, title insurance, land transfer and registration fees, and other closing expenses. Budgeting ahead helps avoid last-minute surprises.
🚨 3. Emergency Fund
Owning a home comes with unexpected expenses. Whether it's a furnace repair, appliance replacement, or routine maintenance, having money set aside provides peace of mind after you move in.
📦 4. Moving Expenses
Professional movers, packing supplies, utility connections, cleaning services, and new furniture can all add to your costs. These are often overlooked when planning a purchase.
🏡 5. Monthly Comfort
Just because you're approved for a certain amount doesn't mean you should spend it all. Your mortgage should leave room in your budget to enjoy life, save for the future, and handle unexpected expenses comfortably.
Buying a home should be exciting, not stressful. That's why I believe preparation is one of the most valuable parts of the buying process. Together, we can build a plan that fits your goals, your lifestyle, and your budget so you feel confident every step of the way.
Wondering if you're financially ready to buy? Let's sit down, review your goals, and create a savings plan that's tailored to you.
Benita Pashko
Creating Relationships That Last A Lifetime
RE/MAX Elite
📱 (780) 887-0978
📧 [email protected]
Oh, and by the way... I'm never too busy for your referrals!