<prompt> Human: Hi rpersonal finance, sorry for the throwaway, but Im looking for some reassurance or reasons why a condo isnt a good idea for my wife and I when our renting apt lease is up this coming fall. Consensus seems to be we should buy a place and stop paying so much in rent when we couldshould pay more in monthly payments, but at least get some equity for it. Pertinent info:Both 27 yo, combined gross incomepre-tax and healthcare: 300k annuallyCombined take home after 10 to 401k no match, health, and taxes: about 180k.Anticipated condo cost: 750k-900k She thinks we may have to stretch to 950k in metropolitan area. We have almost 20 saved for a downpayment, depending on the final cost of the condo. HOA varies, and some include parkingor amenities, but were shooting to have total monthly be at most 6000 or less for housing including taxes 2.2, HOA, PI, and homeowners insurance. Current rent: 2650 per month for a ONE bedroom not including parking 250 and we anticipate it will go up another 100-300 next fall its uncontrolled. Lease ends November 2018. Hope not to eat too many months rent, if any, but we like some units on the market now. Debt: About 60k in her student loans at 6 average, been aggressively paying 5k per month but a home payment would slow that payment.Future expenses: Have a five year old car that I bought used outright and havent put any money into it over 100 per year for hosesminor crap that comes up at the oil change inspection, and Im hoping to get another 1-2 years out of it before looking for another CPOgently used SUV in the 25k-30k range so thats the only other large purchase on the horizon. Current car insurance is 220 a month but should go down with age. Other monthly expenses: about 1000 for grocerieseating outgastollssome entertainment and little weekend trips. Credit: Hovers between 780-805 depending on utilization that month but we treat our credit cards like debit cards. Obviously first-time home buyers, and a little nervous seeing big figures even though smart people that we trust family, responsible friends, coworkers, etc all seem to think this is a smart decision. Thoughts? Am I missing any red flags? Were anticipating 10k or less in closing costs. Assistant: You want to roughly double the cost of your housing and people are telling you this is a good idea?Add 1 of the homes value per year for repair costs. Human: Im considering 1 a year even though our realtor thinks its high most of the condos are less than 10 years old but if you cant tell by the post, Im trying to be conservative with all the numbers. Housing costs doubling assumes that we buy at the upper end of spectrum, get a very middle of the road mortgage rate, and the place has full tax rate and an above-average HOA. The typical this is a good idea we hear is from people saying Youre paying almost 3k a month, or 36k a year and getting nothing long term for it, wouldnt you rather pay 4-6k and own something?  <response>: 6000month or less for housingAnd youre currently or will be soon paying 3000month for a roughly equivalent lifestyle?Thats 36,000 a year. If invested even conservatively, that would be 1,000,000 within 20 years after adjusting for inflation-based rent increases. Interest alone on 1 million dollars would pay out 40,000year.Unless you think a currently-new condo will increase in value at a similar rate, the above is essentially what youre missing out on by not living below your means renting or buying something cheaper. 