That amount of money should suffice to mortgage a house if you can..people with less income buy houses in the area.
However..remember that buying a house does not save you rent. You become an owner, so either you pay rent to the owner, or you stiff him, which happens to be you.
Definitely aware of the trade offs, doing the means test indicates I should own, I digress. There is an emotional component, which is the kids. I grew up moving from one continent to another with no sense of security. I don't want the same for my kids, they deserve stability in their lives, and I've convinced myself that as a provider I need to make that happen for them.
However..remember that buying a house does not save you rent. You become an owner, so either you pay rent to the owner, or you stiff him, which happens to be you.