<prompt> Human: So I am about to graduate college into a job that pays 73k in Austin TX, and I have 10k in debt from school. Real estate in Austin is skyrocketing like crazy. That makes me think that I should buy a condominium instead of renting an apartment since I could potentially make money on the property. However- how much should I reasonably spend?I read that you should spend no more than 28 of your income on mortgage. Since real estate is appreciating here, is it smart for me to spend the whole 28 on a condo?Any and all thoughts appreciated. Thank you!EDIT Thanks for the conversation. Im giving all of this a second consideration and will be taking a much safer route in renting an apartment and building up wealth before taking a stab at purchasing real estate. I totally appreciate your feedback and time, and I apologize if I peeved anyone with my ignorance, since it looks like I was downvoted pretty much everywhere.Assistant: Do you have money for a down payment? 1700mo isnt that much for what these condos are going for in Austin. You can get a 800sqft place near downtown for 200Human: No money for a down payment. :-I might just be an idiot, but Ive been playing with this Mortgage Calculator to see if I can keep mortgage payments in the 1,700mo range if I loan the entire amount at 3.5 interest on a 30-year term loan. It seems the money can fly up in the 300k neighborhood, assuming those things are true.  <response>: No money for a down payment. :-You are not ready to purchase real estate. 