<prompt> Human: Found a home in Western Massachusetts for 290,000. Were going to bid under though. We were originally going to look for homes under 270k but this house had everything we wanted and would need minimal work. The kicker is this, my wifes work is tied with our current housing so we pay no rent. However, we still have the bug to buy with the low interest rates and a hot market. Is this a good time to buy or should we wait?95k income between my wife and me pre-approved for 300k 90k in savings 70k in retirement will not touch for home purchase 8k left for car loan paid off college loans wife is pregnant and due in a few months Could we rent it for the next year and still receive first-time homebuyer benefits and rates?  <response>: 300,000 home against a 95,000 combined annual salary is gonna be tight, especially with a kid on the way. And if one of you were to lose your job, youd be sunk. I suppose its doable, but I personally would not feel comfortable doing it. 