I've accepted a job in the west Suburbs of Chicago. Looking to settle down and start a family. However, these prices are INSANE. I am currently limited to 1mil (physician loan) which allows us to put 0 down. The thing is, even at this price, inventory is very little in Naperville, Glen Ellyn, Wheaton ,etc (areas we would ideally like to settle down). I understand these are hightly desirable locations and the resale value is great but also the homes we are looking at are.. meh for the prices...My wife and I are torn between making the significant effort to buy now (a home that may not be our "dream home") versus waiting a year or two until we save enough to buy something better. For context, my salary starting in August will quadruple and so to me it doesn't seem like a terrible idea to wait out a year or two, save a substantial down payment and go for a >1Mil home.

What would you guys do? Thanks