Mortgage sanity check

Hi,

My partner (35M) and I (31F) are looking to purchase a property, ideally a townhouse in Sydney where we both live and work.

We are arranging to see a mortgage broker but also in the interim have been trying to figure out what would be a reasonable mortgage we could afford.

How do these numbers sound: Combined pretax income $275k; post tax $205k Predicted expenses (bills, groceries, insurance +10% buffer) $95k pa Mortgage $7.5k/month I.e. $90k pa Cash/savings for deposit, stamp duty $450k

Aiming for a mortgage of $1.1m with about 300k deposit for a townhouse of $1.4m. Remainder into offset.

Considerations: - We have protective factors including a likely $50k pay rise in the next 1 year - We have intentionally over predicted expenses by 10% - In the area we would like to purchase anything less than $1.4m we would not be able to buy a townhouse which is important to us - We plan on having children in 2 years which will definitely eat into our offset buffer as we will lose about 50k in income during maternity leave

Any thought or advice are much appreciated! We feel like we are pushing to the limit of what is safe but would love a sanity check!

Edit:

Forgot to mention I also have $18k HECS debt and credit card with no debt on it.