I am not a home educator, but I did teach my son how to read before he started school. I feel a mistake that some schools and parents make is to introduce books too soon. Children become resistant to learning when the task is too hard for them. I think its a mistake to stop teaching literacy. Its better to look at making the learning curve less steep. Pre literacy skills are important.
Does your son know all 44 letter sounds or just the sounds of 26 letters in the alphabet? Are you 100% confident on the proper pronouncation of letter sounds?
This website has a interesting set of phonics games
dyslexics.org.uk/phonic_games.htm
I think that at the age of five it has to be fun. Some children find reading easy, where as other children need a bit of pushing. Some children benefit from a star chart.
Learning to blend takes months. I helped my children by playing games like saying "touch your l-e-g" where is your "ar-m" or "find me something r-e-d" They can take a turn at getting the parent to find an object and its great for their spelling. They were not aware that they were learning reading because I did not have text in front of them. It helps to say the first letter sound slightly louder than the others. You can play games anywhere like the supermarket, park. Ie. (where the t-r-ee) or I spy using letter sounds. A child has to be able to hear letter sounds in words before they can blend.
A fun game is to take a sound your child knows and find objects around the house that start with that letter sound. When your child is proficent at hearing the letter sound at the start of the word, try playing the same game, but with the letter sound at the end of the world. For example for the letter t you would be looking at objects like hat, cat, mat.
There are some good Ipad apps for learning phonics. My daughter liked "Hairy Letters" and "pocket phonics"