Is this house my home?

Brian and I have been married for just about 5 months now and we have our next big goal: To move into our own home. Just 6 months ago I was obsessively watching 4 weddings, Say Yes to the Dress and compulsively clicking on wedding websites. You'll now find HDTV as a favorite'd channel on our Windows Media Center. In fact I've told Brian that Scott McGillivray, from the show Income Property, is now my TV Husband. There's just something about an intelligent man that can actually build things with his hands, but that's a big reason I love my Brian anyway.

So as of January we went and talked to a lender, got pre-approved for a loan, got ourselves a realtor and have been scouring online resources for new homes to visit. What we didn't realize is that we just missed the window of housing price lows, and what we had assumed would be a more than adequate budget has turned into minced meat. We find the houses we are attracted to are just above the price range we have settled on. It's an aggressive market where seller's can ask for much more than what their houses are appraised for or what comparable houses have gone for.

In fact, when talking to realtors we found ourselves in discussions about blind offers, unconventional methods of closing a deal, and offering much more than these over-bloated listing prices. When we first started this journey to find a home I was giddy about the experience, but as time moves on this experience is wearing on me. Brian and I have decided that while we are sick and tired of apartment living, and our ganja-loving neighbor, we don't want to make a purchase this large and feel this uncomfortable doing so. If we have to wait and save more money then so be it. In case you didn't know this a 20% down payment on a house saves you quite a bit of money on your mortage because you don't have to pay something called PMI (private mortage insurance). It adds a pretty penny to your monthly mortgage payments until you get to a 20% equity mark. If you don't have the 20% down a convential loan will save you a bit of money on PMI but your credit score needs to be solid. Anyhow, I've gotten off topic. Brian and I have made a couple promises to each other in this house-hunt:

1) We have to be able to purchase a home pretending that only one income can afford our everyday living expenses and the mortgage. It makes it harder to find a house but we don't want to he house-rich and cash-poor. We want to enjoy life and if we bind ourselves to a mortgage payment that is a beast, we will always be under the stress of making ends meet.

2) Location and school district are more important than finishes and square footage. While we all want both at the perfect price, it's a very difficult thing to achieve. I can buy a 2,200 square foot house on a half an acre lot at a steal of a price, but it will most likely be next to mental hospital or cemetery. It's all preference, but location is ours.

There are many things we want and prefer but everything, except the aforementioned, is negotiable. Sometimes I find myself getting slightly depressed over the large increase in prices, but I constantly remind myself that I am more than okay. Everything is great, and one day Brian and I will have our own home that we can start our family in. A home where I can bake pies and paint in an art room, a garage Brian can work on his car and store his outdoor toys, walls that will one day have crayon marks all over them and a backyard where we can hold outdoor movie nights. I am so ready for this part of our lives, but it's a good thing I have some semblance of a patient personality, otherwise I'd be more crazy than I normally am!