My wife and I recently sold our house, and are looking for a new one. One of the major reasons we chose to sell is that our monthly expenses typically exceeded our income, so we would just chip away at our savings month after month. This also left little money for vacations, car/house repairs, retirement/college savings, etc. I work outside the house but my wife does not currently. We also have two elementary-aged children.
We had been in agreement that our next house should be much less expensive so we could build our savings and try to live within our means. She now wants to look at houses that I feel are not in our price range, because she plans to return to work and is counting on that "future income" to make up the difference. I'm not comfortable with this.
My question then is: am I wrong in thinking that "future income" from an unknown job is not a solid basis to determine how much house we can afford?
Please be honest. I have suggested seeing a financial planner for an impartial third party perspective, but we haven't done that yet.