<prompt> Human: Okay so I will try to keep this short. My husband and I just got married and we are looking for a home. We, at the moment live with parents and dont pay any rent. We have until December to find a home. I make 70k a year and last year he made the same. The problem is his hours have been dramatically cut in the past couple months and he is in the process to get a county job which takes a long time with no official dates as to when he will be hired. Once he gets hired he will make at least a 100k. We are looking for a home in Los Angeles. The market is scarce and expensive. Most houses need renovation, there are bidding wars, a lot people paying cash etc. ..We have been approved for 650k VA loan. The VA allows us to not put a down payment and get a good rate for morgage but at the same time the house cant be a major fixer upper and needs to be liavable. We have been looking for a couple months and have previously put offers on other houses we didnt get. We originally budgeted our max at 3300 a month and decided we were open to have a second dwelling on the property to give to rent to bring in some money. Fast forward to this house, it is 595k and they are willing to give us 10k for closing costs. With our realtors calculations she did say she is highballing to be safe at 4.75 we are looking at about 3600 morgage. The house is a good size 2bd2bath but has a den which can be converted to a room to increase the home price. The garage is attached to the home and isnt finished. We originally had planned to use the money my parents are gifting us 42k to fix the garage into a dwelling and give to rent. We decided for this house to offer the 42k as a downpayement to lower our monthly morgage which leaves us no money to fix the garage right away. Even if we did have the money have an attached wall second dwelling in front of the house is kind of throwing off my husband. My delema is that 3600 is a lot of money for a morgage and while I think we can make ends meet with careful planning I dont want to go into my marriage with financial shortcomings while trying to cope with living together and all stuff that comes with marriage. I feel that it will put a lot of overwhelming responsibility for my husband to find a good paying job quickly and might cause us to have to wait in order to have kids because I have to continue working. Anything we have found with a detached garage needs money to fix the garage for rent and is upwards of 600k. Which means a 4000 morgage every month and us skimming to use the money parents gave to fix a dwelling withing a couple months. But at the same time, the house market in LA is bonkers, rent is a good 2000 for a tiny place. I feel that event if we rent saving a large down payment with her expensive rent is right now is going to take years. This house has a lot of potential and I can see it increase in value by a lot if we update it a bit thought the next couple years and add rooms. I feel that its a good investment. I just want to hear some opinions from others about weather we should take the risk or lay low and try to find a condo or something. I am a bit terrified and a bit lost. Edit: I see a lot of people saying Get out get out! I am curious to hear of some solutions to the problem? If we dont buy a home that costs 590k...what to we do? Edit: Thank you everyone for the comments and advice. As I said I was already terrified and I am glad to hear that our doubts are agreed by many others. Since the home prices I stated above were counter offers, we have just backed out of the deal without concenquences. We have decided to start looking for a condo with a morgage of about 2500 since we will be comfortable with this payment until we either make more money or have more of a down payment. Edit: It seems like a lot of people are convinced that we should rent. I wonder why no one is suggesting to buy an apartment or a condo instead? Also please understand that I am not set out to buy this home. As I mentioned above, we have decided to let it go...but we are also trying to invest in something and not look back in three years and say shoot we should of bought 3 years agoEdit: Just a bit of an update. We did back out of this offer and found another home for 500,000. This will make our monthly morgage 3000. We are also planning on giving out the second small dwelling on our land for rent which will bring in about a 1000 every month. Also, the property has solar panels and hence we will not be paying for our electric bill. Assistant: Theres a housing bubble. It will pop.Human: You hear this a lot but the question is when?!?!? What if it doesnt?!?! We cant put our life on hold to wait for the bubble to popAssistant: Put your life on hold?Human: Having kids requires sapce and money..if you are trying to save for a down payment in a 1 bedroom apartment you are probably gana hold off on having kids...to me thats putting your life on hold  <response>: Honestly how are you going to afford kids if you buy this house. One of you isnt going to be able to stop working bc your mortgage payment will take up almost one of your entire paychecks and have you seen the cost of childcare? You are setting yourself up for some stressful times. 