Are you wanting to purchase a home in the near future?
While you are saving for your down payment make sure you also save for items you know you will need when you first move in, as well as those unexpected expenses.
If you already own your own house, you probably have most everything you need to maintain your new home, but if you are changing neighborhood types (ie: moving from the city to the suburbs or a rural location) you may need different equipment .
If you have been renting, you will need to purchase basic tools to maintain your house and lawn, including a lawn mower, weedwacker, pruning shears, etc, drill, screwdrivers, wrenches, etc,
You will want to include funds for any window treatments, especially if they are different from your old house, appliances, furniture, rugs, cleaning products, and the other little things that make your new house a home.
If your house is not exactly as you would like it, you could include funds to fix up your house, either in your savings or obtain a mortgage that includes a line of credit for home improvements. This is especially important if you have any capital improvements like a new roof or furnace/air conditioning.
Lastly, any professional or DIYer will tell you that things always cost more and take longer than expected. Add at least 10% to your estimated budget. If you are buying in the next year you may want to add even more- prices for building materials have been rising drastically this year!
Daniel could vouch for this. Since he moved in to his house six weeks ago he has learned how to replace shut off valves, the seats and springs in his shower faucet, a jet pump, and light fixtures that did not work correctly. He found some wiring that was done incorrectly and is currently in line to replace a furnace that will not make it through winter. He has also learned the hard way how deep his well really is and that it was feeding two other houses (he was able to shut the water off to one house, but the other is going to take a little more work).
This is truly a case of an ounce of prevention (or savings) being worth a pound of cure!