I feel your pain… If you guys are struggling with an 1800 payment I would not recommend buying. Obviously your tax guy is pointing out the benefits of the interest deduction if you purchase a home. However if you do not have a big chunk of money saved for a downpayment, and you purchase a home, you most likely will be setting yourself up for a potential problem down the road. Whatever you do, do NOT ever buy something you cannot afford. Do you have anything saved up for a downpayment? Would you consider a less expensive neighborhood then CV? Agreed with the previous post, keep your eyes open on Craigslist for a cheaper alternative with regards to renting. That preschool fee of 900 a month is the tough nut to crack. As a parent I know there are few/no alternatives there.
