You can clone the repository wherever you want. The bootstrapper script will pull in the latest version and copy the files to your home folder.
git clone https://github.com/karan/dotfiles.git && cd dotfiles && source bootstrap.sh
To update, cd into your local dotfiles repository and then:
source bootstrap.sh
Alternatively, to update while avoiding the confirmation prompt:
set -- -f; source bootstrap.sh
To install these dotfiles without Git:
cd; curl -#L https://github.com/karan/dotfiles/tarball/master | tar -xzv --strip-components 1 --exclude={README.md,bootstrap.sh,LICENSE-MIT.txt}
To update later on, just run that command again.
When setting up a new Mac, you may want to install some common Homebrew formulae (after installing Homebrew, of course):
./brew.sh