<prompt> Human: Hi everyone, I recently paid down some debts and am left with 30k in student loans at an affordable monthly price and low interest and my car loan for my lease. I am trying to move out of a toxic situation at home and get out on my own. I know I will be in this town and at my job for the next five years if not more. I cant justify paying rent and I have three animals coming with me as well.Most condos in the Chicago Southwest Suburbs Im looking at are between 80-100,000. My friends sister was looking to sell hers and we got in touch and ended up making a deal. Its a one bedroom but very big and it would be enough for me. She wanted to sell for 68,000 but told me she would do 55,000.With this being said Ive heard some conflicting opinions on this. One being that I shouldnt buy a condo this cheap and a one bedroom because of the resale value. That it might invite some not so good people into the units. I dont particularly care about what Ill get out of the selling process since its so cheap but I would like to avoid losing money if possible. I make 51,700 a year with yearly raises and am a 26 year old not married adult. The condo would be sold to me for 55k and I would put 5,000 down. With this being said should I do a 30 year mortgage or 15? What is going to happen if in 5-6 years from now I want to sell it? Am I going to be completely screwed? The difference in the monthly payments would be 673 with 30 and 801 with 15. For the 30 year my interest rate would be 4.75I can afford the 15 year but it would be tight. I only have about 3,000 in my savings account and have plans to contribute monthly to grow this as much as possible. Then make a plan of cutting down some student loan debt or buying out my vehicle. With the 15 year my contribution to savings would be less, however, I do get a 4 yearly raise so overtime could contribute a bit more.What is the best decision here? Am I making a good choice going for a cheap condo thats in good condition? Should I do 15 year or 30 year?  <response>: If the interest rates are close I would get the 30. Then pay at the 15 year rate. That way if life changes I can reduce the payment without any paperwork or refinancing. 