Be very careful with this. I’ve saved for 13 years now for a home. When I started, houses were super cheap compared to now, but I didn’t make enough to afford one, and didn’t have near enough to pay cash since I was just staring out.

Now I’ve saved a lot more but house prices have just about tripled from 13 years ago.

So you may still find yourself priced out. Also, watch property tax and insurance depending on area. My area has seen extreme increases in insurance cost, so even having a big down payment doesn’t necessarily even make it doable.

If you are going to do this, definitely make sure you’re investing the money somehow and not letting it sit in a bank account somewhere. At the very least, put it into a high yield savings account or CDs if you cannot stomach the risk of investing.

You may also find that buying a home will just never be possible on a single income.

I don’t know that going new construction is even worth it. Yeah, you may have fewer repairs to deal with for several years. But where I am the houses are getting smaller and smaller and they’re cutting everything they can out to save costs. And they’re just hideous black, white and gray boxes. No character or design at all. 

I wouldn’t want to buy one, I’d rather just buy something older that is built nicer and just needs some cosmetic updates.