<prompt> Human: I have recently graduated college. I am a 23 year old male. I just took a job making 45-55k a year gross. I am wondering if I should rent at high prices 750-1000 a month, or just bite the bullet and buy a house. My fico credit score is 804. I feel like I can get a fair interest rate with this that would be more financially responsible with building principal rather than my rent going away every month and me having nothing to show for it. I feel like the house I would look at would be in a price range of 60-80k. Any advice? Anyone been here before? Thanks for the help.  <response>: rather than my rent going away every month and me having nothing to show for it.This is of course not true, though its not your fault. we all have that uncle who fancies himself financially savvy who throws around quips like this. You pay rent for a place to live. thats no more throwing money away than buying groceries is. buying a house incurs many expenses that are also throwing money away. refer to our faq here Also refer to the new york times rent vs buy calculatorThe biggest factor is mobility. If there is any real chance you plan on moving in the next 5-7 years a mortgage is a serious mistake in my opinion. At 23, it is often more financially prudent to retain mobility giving you the ability to move up quickly by taking jobs in different cities, etc. If youre positive you dont plan to go anywhere, buying a house could be a legitimate option. hopefully the calculator will help you weigh some different factors and paint a clearer picture for you. 