What should be our 3 year financial plan?

I would say now is a good time to invest in a house, because we are most probably at the bottom of the real estate trough. You need a roof over your head anyway and you might as well buy one with a fixed mortgage and thereby keep your future housing expenses at a constant level, as against constantly increasing rental payments. On top of that you will most likely see appreciation at approx. the rate of inflation, but you get 5:1 leverage of your equity down-payment if you have an 80% mortgage loan on it.