RE: What's the worst that could happen?
And from what you have written here, you most certainly do have some doubts about the decision you would like to make.
I didn't say I don't have doubts, I said I am not scared. Massive difference. Doubts drive for due diligence to be done, like an investor knowing what they are investing themselves into and what the conditions and risks are .
This will be the 4th property I will be buying, the first when I was 18 and a student. I am not scared from experience as I lost my first house due to costs associated with my mother's death from cancer just after I moved to the other side of the world. The financial recovery took a few years time before I could buy again and renovate, then I sold that for a profit so to buy again and renovate and we will sell this for a profit too.
Doubts are good. Doesn't mean they should freeze you in fear.
I'm not sure why you are asking for advice in a public forum when you seem to have already made up your mind. Are you just looking for people who will agree with you? I do not! As I said earlier, I would take your wife's advice, and wait.
In the title of this post, you asked: "What's the worst that could happen?"
My answer: You could lose everything, including your wife and your health.
Good luck!
The question was rhetorical.
That can happen in a thousand other ways too and the health part is halfway there.
You too!
Forgot to address this. I am not asking for anyone's advice, this is my process and I often share it with people. Perhaps one day, it will pay off my house ;D