The number people usually hear is "20 percent down." That is true, but it is only part of the real number.
Before you buy a house, you need savings for four separate things. The down payment, which can range from 3 percent to 20 percent depending on the loan type. Closing costs, which typically run 2 to 5 percent of the loan amount and catch a lot of first-time buyers off guard, averaging around $6,800 for a single-family home. Moving and setup costs, which include everything from a moving truck to new blinds. And an emergency cushion, because homes come with surprise repairs that renting never did.
Here's a simplified example on a $350,000 home:
| Expense | Typical Range | |---|---| | Down payment (10%) | $35,000 | | Closing costs (2-5%) | $7,000 to $17,500 | | Moving and setup | $2,000 to $5,000 | | Repair cushion | $3,000 to $5,000 |
Add it up and the "20 percent down" number people plan around can be less than half of what they actually need to save.
This is the gap Predictye Plan is built to close. Instead of estimating in your head, you get a real savings target broken into a monthly number you can actually hit, based on your specific timeline and target price range.
Buying a house is a big decision. The savings plan behind it should not be a guess.
Don't guess. Just Predictye.