<prompt> Human: Im self employed in my late 30s and over the past several years I have managed to save up 56k in cash to buy a house. I have no other assets or debts, no kids, and live simply. Ive been adding to this nestegg at a rate of about 1.5-2kmo. Im currently renting an apartment for 625month but expect the rent to raise soon to 700. The local housing prices have gone up considerably in the past few years.Ive found a rather nice house Im thinking of buying for around 60k. A well-off family member is offering to give me 10k to help with this. After the house purchase and closing Id only have about 3k left in my bank account, and an additional 8k in a difficult to access emergency fund Id rather not touch.My thoughts are that taxesinsurancewater on the house will be much less than my rent, allowing me to save up faster and put money into a retirement fund. Also the house has a rentable room so if I get into financial trouble I could get some extra income.Is this a good idea or would it be a terrible mistake?Edit: Due to the way my self employment income is taken I do not qualify for a mortgage.  <response>: It seems with your savings habit you will have plenty of money to rebuild your savings and for Home upkeep. As long as there is a clear expectation you dont have to repay the 10k to your relative I would feel this is a great move! 