<prompt> Human: Like the title said Im thinking about starting my PhD at Michigan State. I have no student loan debt from undergrad, but not a lot of money now Im about to do a Fulbright fellowship in Europe for a year so I wont be gaining earning much money during that time either. As a PhD student Ill be guaranteed 35K a year for 6 years and high quality health insurance. I also have a significant other who is planning to move with me obviously Im planning my decisions so I can afford everything even if we split who should be able to make roughly the same income if not more. Ill be in grad school for 5-6 years.Right now the housing market around Michigan State, especially Lansing, is extremely cheap due to the collapse of the auto industry, but the area shows signs of turning around. New industries are popping up and the city is putting effort into rebuilding in a smart way. Ive found several good houses in the area for 50-70K. Most houses are 2 bedrooms so I could get a roommate and charge rent to cover the mortgage payments and if Im not able to sell at the end of grad school I could find a way to use it as a rental property for students.If I take a year at an affordable apartment, get a bit of a safety net and some money for a down payment of 10-20 maybe try to see if I can get a 0 down? is it a wise decision to go for a house? Would I be better off just getting affordable rentals and investing more and putting more into retirement funds?  <response>: PhD here. Dont mess around with a house. Study, work hard, do research, save your pennies for real life after you graduate. Its tough to watch all of your friends hit life milestones like home ownership, kids, promotions at jobs, etc. while you are just still a student. But with a little hindsight, I suggest you just focus on being a student and doing what you need to do to be successful in your field once you graduate. You will have plenty of time to catch up with everyone else. You dont need to spend your time or money worrying about and maintaining a house right now. Also, students are notoriously horrible tenants. Also, 36kyear with health insurance just to be a student is an incredible opportunity - again, just focus on school. 