<prompt> Human: Ive been an hourly employee since I dropped out of college. I recently got a promotion and got a 50 yearly boost in pay while going from hourly to salary. My monthly income after taxes and health insurance is 2866- Im currently renting with my girlfriend at 1k a month. I have some friends that own houses in the neighborhood I live in and their mortgages are all sub 700. The area I live in is currently being gentrified and every home I see go up for a sale is just a little more expensive than the last one that sold. That being said homes are pretty cheap around here. If I can buy a home in this area now Ill likely get a really good ROI. Im wondering if buying is at all in the cards for me right now and how I would go about doing it. I may have someone that could cosign on a loan for me but its unlikely. Do I need to start off with something smaller like a car loan and then just save as much as possible?  <response>: Also know that it will cost you more than 700.Just because you can afford 1k in rent does not mean you can afford 1k in mortgage. You will also need to pay taxes and insurance. Also you will need to pay for maintenance. All of these things are rolled into you 1k rent. Just be aware when doing your planning. 