To buy a house, prioritize increasing income through side hustles, upskilling, or career advancement. Save aggressively for a down payment, aim for a credit score above 740 to secure favorable loan terms, and explore first-time homebuyer programs offering lower down payments or closing cost assistance. Leverage real estate investments, such as rental properties or REITs, to generate passive income. Additionally, consider negotiating rent-to-own agreements or house hacking (cohabiting with roommates to cover mortgage costs).

The primary challenge in buying a house is the high cost of housing and down payments. In 2023, the median down payment in the U.S. was 20% of the purchase price, averaging $48,000 for a $240,000 home (Federal Housing Finance Agency). However, first-time buyers can reduce this burden through programs like FHA loans (3.5% down payment) or VA loans (0% down for veterans). Increasing income by even 10% annually can accelerate savings, while a credit score above 740 reduces mortgage rates by up to 0.5% (MyFico). Side hustles, such as freelancing or gig work, can add $500–$2,000 monthly to savings. Real estate crowdfunding platforms like Fundrise offer average returns of 8–12% annually, helping investors build equity faster. Combining these strategies enables buyers to save $12,000–$24,000 annually, covering down payments and closing costs within 2–3 years. Data from the National Association of Realtors shows 40% of first-time buyers used savings, 35% relied on family help, and 25% utilized loans, highlighting the importance of diversified funding sources.