My girlfriend and I have been looking for our first place for almost two years now. Needless to say, we’re eager to close on something at this point.

We have no debt, a paid off 2019 vehicle, make around $160,000/yr (can be up or down $20,000 depending on her work) and we spend around $2,000/month on things excluding rent and housing related bills currently.

We’re looking right now at houses in the $800,000 range, which is realistically the minimum we’d need to spend to find a place that fits our wants and needs (outdoor space, parking, 1 - 2 bedroom). Now, neither of us have much family currently and so we don’t really have anyone we can ask about all of the REAL expenses you incur once you own a home.

We’re looking at a place right now that’s expected to go for around $850,000 and while we’re approved for up to $900,000, I’m wondering if this will stretch us too thin for comfort.

I know the first few years are typically the hardest for new home buyers, but is this a bad decision for us? Should we look for something cheaper like a townhouse instead?