Emilie Broughton Real Estate Blog

Thoughts on Saving to Buy a Home


In order make a down payment (a percent of the total loan you’ll take out to buy the house), you’ll need to take inventory of your savings, rework your budget and likely make some changes to your lifestyle. But it’s all in the name of seeing your name on a deed and owning a piece of real estate.


Once you’ve figured out how much you can afford for a house and what you’ll be putting down in a deposit, it’s time to start saving for that down payment so you can make the dream of homeownership a reality. Here are some strategies:

  1. Transfer savings into a separate account, so you’re not tempted to spend it.
  2. Cut expenses—more modest vacation, fewer meals out. 
  3. Pay off high-interest debt—this will also improve your credit score.
  4. Ask relatives for help, but be sure to clarify whether the help is a gift or loan.
  5. Put any extra money toward the down payment—Bonus? Rebate? Cash gift?
  6. Ask for a raise.  Put the extra money in that special account.
  7. Sell stuff. Put the receipts in your separate account.
  8. Tap into retirement funds.  First time buyers can make specified withdrawals from IRA’s.


Each step you take brings you closer to that goal of owning your own home.

This entry was posted in Blog, Real Estate.
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About Emilie

A transplant from the Pacific Northwest, Emilie has first-hand knowledge of the ins-and-outs of first-time home ownership and remodeling. She has become involved in the local art community and all the diversity Southern California has to offer and more recently has expanded her knowledge to include New Mexico.

Emilie’s passion to be involved in her community led her to become a licensed Realtor and Broker.  She continues to educate herself on different aspects of real estate to support clients with a variety of needs.  She is certified as a Military Relocation Professional (MRP) to work with U.S. Service families and veterans to find affordable housing solutions.

Having worked for both a small boutique firm and a company with a global presence, in 2023 she formed Emilie Broughton Real Estate to work with buyers, sellers, landlords, and tenants in California and New Mexico.

Splitting her time between the Land of Enchantment and the Golden State, Emilie focuses on Los Angeles County and the Greater Albuquerque metro area, helping her clients achieve their real estate goals in both Mountain and Pacific Time Zones.

Emilie represented her region as a California Real Estate State Director for three years.  She has served as President of the Pasadena Foothills Association of Realtors and is a multi-year recipient of the Five-Star Real Estate Professionals Award for the outstanding service she provides to her clients.

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