Purchasing primary residence in today's market.

[Dustin Poole]

Hi all, 

I've been waiting, and waiting, and waiting for a time I felt more comfortable buying and that times not coming. I listen to the bigger pockets podcast, and various other finance channels and I guess you could say I'm in a state of paralysis. 

The dilemma

The wife and I found a home we love, that is in the Weatherford TX area. 
The price on a per sq/ft number is relatively high for the area. 

The asking price is 495k and its newly listed. 

I make some where in the 200k range, however some of that (50k) ish is sign on bonus, and will expire at the end of this year. 

My wife is a stay at home mother, and does not generate an income. 

We have no other debt. 
 

My calculations put me over the "rule of thumb" for debt to income for a residence, but we have no other liabilities. 

I guess I'm just looking for advice, should I sit on my hands, or find a way to make it work. I'm also nervous about things appreciating.