[nolanfan34]

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Also, since you're brand new to the area, how will you know what kind of neighborhood you're moving into?

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This is a really, really good point. Having just gone through the house buying process myself, I know that it's an overwhelming process at times. And I'm extremely knowledgeable about the neighborhoods we were looking in, since I grew up around here. Location is just such a key factor.

You have to also think about resale as well. You should be approaching this process thinking about something you can turn around and sell in 5 years or less, if need be. This is your first job out of college - you might not even like it after a year. There's no way to know for sure.

Given that you're starting a new career, and about to have a baby, the stress of the home buying process is really something you don't want to have to take on right now. I just did exactly that, and it's tough to get acclimated to a place while you're obsessed thinking about houses every day. Let alone having to leave work early to check out showings, do the inspection, sign paperwork, etc.

I would strongly recommend waiting at least 6 months. Get a 6 month apartment lease, save some cash, and make sure you can get into something you can afford. We almost bought a house when my wife went back to school, but decided not too because it was going to stretch the budget too much. That was a huge decision, because looking back at it, there's no way I would have been able to afford a mortgage+taxes+other costs of owning a home.