Are we crazy for dreaming about buying a new home?

Go get your pre-approval before getting your hearts too set on a specific property. It's step 1.

You say you have $8k from savings to spend, aren't you going to need 10% for a down payment? $30k? 20% is preferable.

Factor in an emergency fund to handle loss of a job and medical emergency. I just had a medical emergency that kept me out of work 6 months. Even w/ work health insurance covering most of it, the remainder and loss of work income was expensive.

Also consider owning means surprise maintenance/repairs. Either internally within the walls of your condo, or if the building as a whole decides they need major roofing repairs or something similar.

/r/personalfinance Thread