You need to know a little about the process of purchasing a home before you ever begin saving. The knowledge of the process will help you better manage and lay out exactly what you need to save. Buying a home isn’t cheap, and there are more costs to consider than just the price of the home. 
Arm yourself with some useful knowledge, and delve into the details of purchasing a home. Save strategically. Reach your goals faster with a more targeted approach. Here are a few important details to consider (financially speaking) when you’re working to save for a new home purchase.
Consider the area in which you want to purchase
Location is everything when you’re seeking out the best place to purchase a home. Location will determine the quality of education available to your children. Location will determine the atmosphere of the neighborhood in which you live. Most importantly, location will make an impact on what you will pay for a home.
For instance, if you were considering purchasing a home in Scottsdale, Arizona. You would pay a little more for homes for sale within the city of Scottsdale than you would for a home on the outskirts of all the action.
The median price of homes in Scottsdale, AZ is nearly $100,000 more than the median payment for the homes, so you know that you have room to negotiate prices in this area.
Consider what you can truly afford
Before you can ever decide upon a realistic savings routine, you need to take a good look at just what you have to spare. You have to thoroughly lay out your current financial state to begin moving forward towards home ownership.
Consider what your possible mortgage payment would be on a house that fits your aesthetic liking first, and then go from that number. You’ll likely want more than you can afford, but that doesn’t mean you can’t find a happy medium.
Consider living small for a while
Consider living on small means while you’re saving to purchase a home. Cut costs whenever possible, and think twice before spending money on things like entertainment and pampering.
You will be amazed after just a couple of months how much you have saved. Saving is a conscious effort, and you can’t give up when times get tough. Stick to your savings plan unless it is an absolute emergency.
Consider your credit history
Don’t go into a bank for a home loan without having a thorough knowledge of your credit history. Look over your credit report prior to home shopping, and consider what you can do to make it better.
Consider a healthy down payment
When saving for a home, you’re really saving for the down payment and other added costs of the “process” of buying the home. Consider saving a twenty percent down payment to secure that your offer is always taken seriously.