<prompt> Human: Hey guys,I was hoping to get some thoughts on my current situation. Im a recent college graduate making around 48,000 a year and Im looking at getting a house soon. Since Im living with my mom right now my only bill is car insurance of about 100 a month. Im very fortunate in that my grandfather has a significant amount of money and has said he will help me out with a downpayment, but is reluctant to discuss details until Im closer to buying. He mentioned around 30 for a downpayment, but wont tell me much else.The area Im looking at has prices around 200-250k. Obviously this would be out of my price range normally, but given the assistance am I wrong for going a little bit higher than I otherwise would? My feeling is that with the rates and prices like they are, spending more might not be a terrible idea, especially if I can skip the starter home considering I dont see myself relocating out of this city.At the very least this downpayment would be an interest free loan, but more likely it would be essentially an advance on my inheritance. As of now I have 10k in the bank and that will only increase as most of my paycheck is heading to my savings. I wish I could be more specific about the downpayment but thats all Ive got. TL;DR - I have at least a 30 downpayment ready, 48k a year income, and no car payment. How much house should I buy?  <response>: I recently purchased a home and have roughly the same annual income. Ill tell you what I learnedknew going into it.1. If youre not a handy man dont buy a fixer upper. If you are a handy man and buy a fixer upper be sure you can afford to pay for supplies and remodels. Im not a handy man so I purchased a home that was move in ready. However the side gate needed to be replaced and I figured I could do it myself. In my mind I budgeted one day and 150...reality: a week and 300.2. Being able to afford the monthly mortgage is one thing, being able to afford the monthly mortgage plus bills, insurance, utilities, etc. and continuing to add to emergency fundssavingsretirement401k is another. Youll want to be able to continue to add to retirement and savings accounts and have at the very least six months of savings left over after the purchase of your home.3. Keep in mind spontaneous expenses. If your air conditioning unit all of a sudden needs to be replaced youre looking at about 5k-7k so the emergency fund is very important. Also keep in mind other spontaneous expenses that might pop up; Car transmission blows will you have enough money to pay for that as well as your monthly obligations?4. Youll want to have some fun right? Be sure to include in your budget funds for eating out or going on vacations and just plain fun stuff. Money can disappear really quick on 48k a year especially if youre paying for everything on your own and you have a significant other.5. Property taxes vary from state to state and that is something youll want to look into before purchasing a home. Some people like to put money into their own savings account and then pay what they owe in property taxes annually or bi-annually. Some people like to have it included with each mortgage payment.6. If youre trying to figure out your monthly mortgage obligation dont do what so many people do when theyre buying their first house. If I buy a house at 150,000 with a 30 year loan then my monthly payment will be: 150,000360 payments 417 a month. I can afford that. I see it all too often and it can get you into trouble.You are in a unique situation whereas you have a significant amount of money for a down payment. Another idea could be to use a portion of the money you have for a down payment on your conservatively priced home and then potentially use another portion to put a down payment on a rental property, i.e. condo. There are a lot of places where you could purchase a smaller home, lets say 50k, and rent that property out to earn extra income. This would probably be another thread altogether but something to take into consideration.Good luck! 