This verse has a lot of surprises: untranslated words, a common word with poor translations, and uncommon words translated to look like common words.

The verb translated as "doeth" and "puts into practice" is normally a verb of action, meaning "do" or "make," but when it refers to thoughts, it means "consider."  Here, its can be either action, "does," or thinking, "considers." Jesus's meaning  doesn't become clear until , Matthew 7:26, where the same phrase is repeated but with a negative of opinion rather than action.   

The missing words are mostly the articles "the" before "sayings," "house," and "rock," but the "all" that begins the verb is missing in the KJV.  The missing "the" is important because the Greek words translated as "mine" and "his" come before these articles, and this is very uncommon for Jesus. The construction emphasizes the possession of something. See this article on the use of the Greek article for more.

The common word translated in an uncommon ways is the word translated as "sayings" and "words." This Greek word means "ideas" and "concepts," but it is usually mistranslated as "word" even though it is not the Greek word for "word." See this article for more about this word.

The uncommon words are those translated as "man," "wise," and "rock" are uncommon.  The word translated as "man" is used to contrast one male with something else: god, woman, or another man. The "wise" has no relation to the common word "wisdom." The "rock" is not related to the word translated as "stone."  This word translated as "rock" also has the specific meaning of the "cliffs above the sea."