<prompt> Human: My wife just got accepted to grad school in North Carolina, and we are 95 sure that we will move there in a couple months. Since Raleigh sounds like a place that we want to permanently settle down at, we are thinking about buying our dream home instead of renting. Buying a 250K house on 50K income usually is an awful choice, but since my wifes income after grad school will bring our total income to over 100K a year, I think we can absolutely afford to buy the house. Besides, renting a house will cost 1300-1400 a month, and we would rather put this money towards our mortgage than rent if possible.Facts about us:My current income, and projected income in Raleigh in engineering industry: 50K My wifes income in 2.5 years once she graduates as speech therapist: 55K-65KCost of wifes school over 2 years: 30KChecking accont: 8KSavings account: 10KRoth IRAs: 10.5K401K: 3KIndex funds: 40KCrypto: 5K2 cars motorcycle that are paid off: 20KBoth of our credit scores: 760-770FILs income: 250K a yearFILs credit score: 800We have been renting for the last 3 years, and we are ready to own our home and really settle down. Do you guys think that we should rent for another 2 years and pay around 35K to a landlord, or are we financially in a place that we can afford a house? We would need my FIL to cosign the mortgage for us since my income alone is not high enough for a house that we want to live in for the next 20 years.TL;DR: Im 25, my wife is 22, and we want to buy a home that we will own for the foreseeable future. Once wife graduates in 2 years, our income will more than double. Instead of renting for 2 years, and buying our home then, we want to buy that home now by having FIL cosign a mortgage with us.  <response>: If you need a cosigner, you are not ready to buy a home. Wait a while longer until you are ready to do it on your own. 