<prompt> Human: Husband and I considering buying a house. Preapproved for FHA 203 Mortgage with 3.5 down. Found an acceptable option for 160k 1039mo. PI, insurance, taxes, PMI and a dream type option for 240k 1738mo. with the above and 189 HOA fee.Were moving for my job salary of 80k, so he will be job hunting when we move, but I imagine he will find a job making 30k minimum. Also, we will plan on renting out a room to a relative for 600mo. This will last at least a year. Beyond that is uncertain.Current Recurring monthly debts 1700mo consisting of student loans, car loans, insurance, utilities, etc. We typically spend 1500 on top of that for food, gas, alcohol, shopping, fun etc. Also, I should mention that the down payment, closing costs, etc will essentially deplete our bank accounts for a short period. Well probably have 1,000 worst case. Also should mention that this will be a long term move, which is why Id rather buy now rather than rent for a year and buy then. Also, we wouldnt rent out a room to the relative if we end up renting instead of buying. Renting would cost about 1000mo. in the area we would move to.TLDR: pay 700mo more for dream house vs acceptable house? Thanks very much for any advice.EDIT: Thanks for all the advice and warnings. The dream house option has fallen out of favor and went under contract this weekend. Probably a blessing in disguise. The cheaper option also went under contract, but I think we are going to only pursue this lower price range.Assistant: so... with dream house, its 1737 189 hoa 2000mo. 1700mo loans and 1500mo food and stuff. thats 5200mo. wutg a sakart if 80k, thats about 64k after tax, assuming no retirement contributions. or 5.3kmo. thats gonna be rough. doesnt look like your income can support the dream house atm. dont factor in what ifs, only factor in what is happening now. Human: the 1738 dream house included the HOA fees. Zillow doesnt list any HOA fees on the cheaper one, but its a possibility that one would include them as well.With 5 401k contributions, taxes, benefits, etc , I expect about 4500 income per month.I guess I just realized I feel a bit pressured to buy now mostly because of the free 600mo rental income which goes away if I wait a few months or rent for the foreseeable future and because I know well be living there for a long time.Assistant: so with the hoa included, youre looking at 5k expenses a month on a income of 4.5k. thats not gonna work out. instead of looking at it this way. look at your current expenses. do you feel like you are doing okay each month or are you tight for money? then add in the extra cost of owning the house say, maybe 1k a month. based on your current financial picture, would you still be okay paying an extra 1k a month? Human: Youre right. Its very tight on just my income alone We can cut back a bit to survive on just my income. Adding in the rental income and my SOs future salary really makes me think the dream house is doable, but the unknowns do scare me a bit. Really need to do some soul searching here.I just keep falling back on, Well, wed be paying 150 more to buy vs rent in the first year. And by then, when the rental income may end, my SO will definitely be making more than the difference.  <response>: Dont bet on your future income. Your lenders certainly wont. 