Since you don't know how much you need to save, can't you just save as much as you can? If you save more than you need, so much the better. But maybe it's better to be goal-oriented.
I think 3 mo living expenses should be okay if you're both working, because as others have said you can always tighten the belt if you only have one income for a short time. But don't forget to budget $5-10K for those surprising expenses that come with being a new homeowner.
When we bought our house, the first few months were like this:
"Oh, it's garbage day. We don't have a garbage can!"
"Oh, the bathroom tile is disgusting. We don't have grout cleaner!"
"Oh, the dryer is broken. We don't have enough clothes racks!"
"Oh, it's 50 degrees outside. We don't have a working furnace!"
There were so, so many surprises. I was sort of prepared for the big ones, but the small ones added up too.
I also like the idea of renting for a year. I know so many people who bought the second they moved here and spent the next years wishing they lived in that other neighborhood over there.
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