19/10/2026
Want to buy a house? Before you start throwing every extra dollar into a down payment fund, let’s talk about the order you’re doing it in.
For our October Smart Money series, we’re focusing on making homeownership a financial decision that works with your bigger goals, not against them.
One approach is to start by paying off your consumer debt.
Then, build a fully funded emergency fund with 3–6 months of expenses.
Why do that BEFORE aggressively saving for a house?
Because life doesn’t stop happening just because you’re trying to become a homeowner.
A car needs a major repair. You unexpectedly lose income. The AC goes out. A medical bill shows up. Without savings, that emergency can quickly become new debt, and suddenly the money you’ve worked so hard to save for your house is disappearing.
Once you’re debt-free and have that emergency fund in place, THEN you can start putting your extra money toward a down payment.
It is also recommended to aim for 20% down when possible, or at least 5% for a first-time home buyer, and keeping those down payment savings somewhere accessible, such as a high-yield savings account.
The exciting part of buying a home is searching for the house.
But getting your finances ready before you ever start touring homes can be just as important.
Throughout October, we’re sharing more ways to make smart, intentional financial decisions around buying, selling and owning a home.
Hackworth Realty Group is here to help you buy or sell with integrity and financial peace of mind.
Follow along for more of our Smart Money Moves: Home Edition series.
