<prompt> Human: Im 23 years old and looking to buy my first home. This has become a more and more necessary investment as my rent goes up every year. The only problem is, the house is 840 sq ft. Its closer to the city, which means its definitely a solid investment financially, but Im worried itll be a tight fit for my lifestyle. I have a dog, Ill also have a non-romantic roommate in the home. Its 2 bedroom 1.5 bath. Living room is 14x12, my bedroom would be 12x12 if that gives you an idea. Ive already decided it will be necessary to get rid of my king size bed and switch to a queen preferably a storage bed Do you think two adults and a medium dog can live comfortably here? The crawl space seems very spacious I could walk in there so could that potentially become extra storage space? The kitchen is 10x8, but appears to be less cramped and better designed than kitchens that happen to be a bit larger so I dont think the kitchen will be an issue. Any advice or things to consider is much appreciated. Allow me to add a bit more clarification. Location is 10 minutes to downtown. The home, although small, is 100 renovated as of a year ago new roof and all. Hardwood floors, granite countertops, tile bath, updated modern sinks, stainless steel appliances. Theres a very large window in the living room to allow in light, it looks similar to the size of a glass patio door. The owner has been renting the property out for 1400 a month, which is 500-600 more than my payment would be including taxes, insurance, etc. Similar properties in the area are listed at 50,000 more than the purchase value of this one. This all has bearing on the inherent value, but not necessarily quality of life. Thank you so much for all the thoughtful input. Assistant: My advice to you if you do plan on buying an 840 sqft. home is to make sure that the purchase price is low enough that you can afford it without a roommate contribution. At this point in your life, having a roommate may seem like a solid financial decision and in many cases it is. What you will most likely learn in time probably faster in such a small space is that you are going to find yourself becoming cramped and not able to completely live how you want with a roommate. Especially once youre out of college.You can almost forget about having a boyfriendgirlfriend move in with you in the situation youre describing. The flip side of this is that your roommate may decide they want a bfgf moving in with them. Two people if youre a couple and a dog can probably make 840 sqft. work. Two people roommates and a dog can probably make it work for awhile. Trying to add a third person into the equation will not be sustainable.Human: Thank you for your input. I would not be okay with my roommate moving in an SO, and as the homeowner Im hoping I have the reasonable right to make that objection. Ive told him upfront I dont have the intention of living with a couple. If I ever did move in an SO I think I would no longer have a roommate, but that is not in my foreseeable future. The purchase price is more than Id like to pay for a home that size, but with market value in my city its certainly the most affordable thing Ive found that isnt falling apart. I think Im absolutely capable of paying the mortgage by myself, even if it would be a bit of a stretch its currently cheaper than my cost of renting alone. My roommate is very eager though and has volunteered to help me pay off the mortgage more quickly so we may pay extra onto the principle each month when were able. Assistant: Unless your roommate is on the mortgagedeed, you shouldnt be having mortgage conversations with them. You should have a lease to define terms such as not having a 3rd person move in. Having the person involved with paying extra on the mortgage may give them the impression they have an ownership stake in the house.They need to pay you rent. If you take the rent money and pay down the house early, thats on you.Human: Got it! Ill have a contract drawn up. I try to be a very transparent, honest person and I suppose I can take that a bit too far at times. Is charging half of the mortgage adequate? Or is fair rent somewhere between market value and the mortgage cost? I dont want to charge more than is fair, but I also dont want to be charging too little while being solely responsible for any damages.  <response>: Absent any mitigating circumstances, market value is pretty much the definition of what is fair. 