I would try for a 2 br or possibly a 3 br place. There are several variables to consider. I was in your shoes years ago but did not work from home. I ended up buying a small 2 br cape style house in a good neighborhood that had a good elementary school which was 5-15 min dr to work. Why? Although I had no children or had plans, I knew that if I wanted to sell the home, I had a better chance of making money (I broke even because I had to sell when the market was down to buy a new house with my newly wed wife who wanted something to consider "ours" and was closer to her work).
Things I considered at the time
Property tax (larger more $)
General upkeep cost (larger more $)
Utilities (generally, larger more $)
The larger a place, the more you have to clean!
Sometimes a great deal can be had for a larger place in a great location->future resale/investment
Location
Structural issues, bad roof, heating and cooling, exterior state can be expensive fixes or deal breakers
It sounds like you are in a very good position because you can be patient and have a better chance getting exactly what fits you. So many people are in a rush, fall in love with a place and then overspend. Good luck in your search!