If you're planning to buy a home in 2019, you should be ready to spend some serious cash.
In addition to forking over a 20 percent down payment, you also need to have enough in the bank to cover closing costs, moving expenses, repairs and the first few months' mortgage payments, all without draining your emergency fund.
For first-time buyers, that can feel overwhelming. But it's worth it to ensure that you're in a financially sound place before diving into homeownership.
In fact, the biggest mistake people make while saving up to buy a home is socking away only the bare minimum, says Eric Roberge, a CFP and founder of Beyond Your Hammock.
"Scraping by is no way to live your life and, although it may feel like it, buying a home will not magically make your life better," he tells CNBC Make It. "Just like anything else, you will get over the new home feeling and sink back into normal life."