[jeebuss31]

Hey guys 1st time posting on here. My wife and I are looking to buy our 1st house. I need some help budgeting since this will be our 1st home! (exciting!). Our goal is to not be house poor,but yet get the best house and still able to travel and buy things.

Currently, our yearly gross is $140,000 and our monthly take home pay combine is $6875.89(after tax,insurance,401k etc).
We have a student loan debt of $600.00 for the next 5 years(no other debt!) We don't have kids, but if we do, one of us will drop to part time and we can still gross around $113,000.

My question to you experience home owners, could we afford and not feel tied down to a mortgage payment between $2500 to $2700? The house price range i'm looking at are between $405k to $420k with 20% down payment.

Here is what I got after doing my math:
Take home= $6875.89
Mortgage= -$2600.00
Debt= -$600
Gas,clothing,food,entertainment= -$2000.00
Additional savings=-$500.00
Utlities,cable,phone=$ 400.00

This leaves us $775.00 a month to put away in our combine "using funds"account. We also going to inherit some furnishings from our parents(couch,bbq grill,lawnmower, etc) I feel like I'm forgetting some things, so I'm hoping you guys can provide feedback.

I apologize in advance if this was not in the correct forum.

EDIT- I live in the US