<prompt> Human: I feel like I have a good grasp on our personal finances but Im struggling to figure out where to go from here. Im employed as a full time engineer making 68Kyr and my wife is a PhD student on a fellowship that pays 30Kyr. My wifes income will likely be quite a bit higher after she finishes school but obviously we cannot guarantee that. Were in Chicago and live in a comfortable townhome that costs us 1500month. We have no remaining student loan debt, no credit card debt, no car loans - no debt whatsoever. Part of my paycheck goes into a 401K, HSA, vacation fund, and generic savings account every month. We also contribute a nominal amount to a roth IRA. We established a 10K emergency fund and have close to another 10K in savingsconservative ETFs. There is a chance that our landlord will be putting our townhome up for sale in fall, probably for around 180K. While we enjoy the place I dont think we like it enough to buy. Its a perfect size for the two of us but isnt really something you can grow into. Most things Ive read say that in this market you shouldnt be purchasing property unless could deal with living there for an extended period, even greater than the traditional 5 years recommendation. The idea of being a home owner appeals to me but I would want a larger single family home. Is that shortsighted logic? Should I be seriously considering this town home or condos?Also, coming up with 20 down payment in the Chicago market is quite daunting for us. If we bought property at any point in the near future I see no way around being forced to pay for private mortgage insurance, which feels like a waste of money. But is paying for rent any better?So which option would you pick?1 - Try to continue renting for the next few years, at least until my wife graduates and is employed full time. If we get kicked out of our current place, begrudgingly search for another place and waste more money on moving expenses. 2 - Consider buying the townhome were currently renting?3 - Consider buying a more expensive single family home? We would have a meager down payment and how would lenders feel about my wifes student status?Any other general advice?  <response>: This is a no brainer. Continue renting. If you have to move to a new rental, no big deal. I wouldnt even consider buying a house until youve both settled into a career. 