<prompt> Human: Currently I am renting an apartment. Right now, there are a lot of pros for me to quit renting and buy a house. I could have a significantly lower payment, I would have a yard for my dog, and I would be a lot closer to work saving me a least 150 a month in gas. The problem is that I currently dont have the initial funds to move, even though eventually I would be saving money by moving. How much should I have saved for moving costs and such before I am able to close. Considering the fact that I could use the extra time, I was also considering looking for a short sale or foreclosure to get an even better deal. Thoughts?  <response>: There are a lot of costs of ownership beyond the mortgage payment:- Property taxes- Insurance- Repairs- Maintenance- Mortgage insurance if you dont put enough money down- Additional utilities if you move into a bigger place your heating bill will probably be higher, etc.These costs are high enough that, in my own cost estimate, my total cash outlays are more than twice the mortgage payment. And thats with 20 down, so no mortgage insurance.There is likely to be a rental option with all the same qualities youre looking for in owning. I would try to find one and put that 150 you save in gas into a fund for a downpayment if you are really interested in owning. But I wouldnt look at buying a place in the short term for saving money unless you go really cheap.Of course, you really should run your own cost estimate to see for sure. 