Should I buy now or wait a year?

[Megan Henson]

Hello, I am a first time home buyer and I am trying to decide wether I should get a home now or wait another year. I am currently renting an apartment in the Dallas, TX area and for about the same price or a little more than I am spending now, I could get a 3 bedroom house.

My credit score is about 730 and I am thinking I would put about 5% down on a home with a target price range of about $230,000. I have been employed at my job for a little less than a year, but that is because I graduated in May 2019 from college. I have heard that I can still qualify for a mortgage since I am working in the field my degree is in, is this true? Also, I currently do not have any student loan or car debt. 

Should I go ahead and try to buy a house now, or should I wait?