You need to prepare

According to Dave Ramsey's book Starting Over, bankruptcy doesn't have to stop you from purchasing a home after your discharge. As a matter of fact, only a few things should stop you from purchasing a home: not having a 15-20% down payment, not having a fully-loaded emergency fund, and not finding a lender who is willing to look beyond your FICO score. If you're not this ready, might as well stay put for a little while longer.
Another post-bankruptcy go-to guru, Steve Diggs, says in his book No Debt, No Sweat! that you should only really consider purchasing a home after you've thoroughly evaluated the value appreciation, the needs of your family and how much payment you can actually handle. 


Our final thoughts on the matter

Buying a house after bankruptcy really all depends on three major things: 

1) How good is your credit?

2) How much have you saved towards a down payment?

3) What is your income level?

As you're probably well-aware at this point, the name of the game is perfect-timing. And until the time is right, you have plenty of work to do. Rebuilding your credit score, saving as much as possible for a down payment and making sure you're looking at houses that are within your means are your top priorities right now. As a rule of thumb, you shouldn't accept a mortgage that is more than 30% of your annual income. This ensures that you don't spend outside of your means.

Remember, you don't want to be in the same situation you were once in. And we have to agree with Dave on the emergency fund topic. You need to make sure your emergency fund is fully padded for the hard times before you start saving up for a house. Come up with a plan, stick to a budget, discipline yourself when times are good and make sure you live within your means - if you do this, you'll find the outcome a lot better this go-round.