<prompt> Human: Hi everyone.Im young and I eventually am thinking of owning my own place. I only have 12k in savings dedicated to the house emergency fund separate so far.Where I am, its a budding city. Relatively unpopular but slowly growing. A new prime location condominium has been built in the centre of the city and it seems like a tasty piece of real estate.Bad news is its 700k for a 1-bedroom condo. Which is okay for me. I do not plan to have a family. Whats not okay is the price tag. I just got a new job and I earn 89k per annum pretax. Right now Im able to put away 2000 per month just for house savings. Although I initially planned to think about buying a house after 2-3 years worth of saving, the new condominium has sparked my interest.So, reddit, I have two questions : Can I afford a 700k condominium on my salary? Is it a stupid decision?Thanks.  <response>: The payment on the mortgage alone will be 3300 a month, that doesnt include HOA, property tax, insurance and utilities. Do you have that available every month? Do you have a 140k down payment?And a relatively unpopular city has 700k condos? Even the nicest 1 bedroom in my city is around 200k and the real estate market here is on fire. 