HCOL area, $1.1M on $300k income. Crazy?

Reading these posts here and people are saying that they’d never buy a $350k home on a $250k salary and I’m not sure if everyone else is conservative or I’m crazy for feeling like I can afford a $1.1M home on $300k.

Monthly PITI would be around $7k, planning on putting $150k down and keeping $100k cash in the bank until partner graduates college and begins career in about 1 year. I know that nothing is guaranteed but they’re expecting to start in low six figures and eventually match my salary after a few years. We feel like we can afford the monthly payment on my income alone. We’ve been paying our current $2k mortgage and setting aside an additional $6k a month to simulate paying this higher mortgage. We still have enough left over to cover the bills and add to savings. Our spending and quality of life has not changed which makes us think we would be okay. Worst case scenario, we can pull from our liquid savings to assist us until my partner gets a job. This should help us for at least 12 months should we need it.

Is this a bad idea? Reading posts here makes it sound like it is but we can’t really outpace the market here and wait 5 years as the $1.1M home could become $1.4M by then.