<prompt> Human: Hey, Im kinda seeking advice. Im 19, full time college student and on a 32k salary. I live in Boise Idaho, and right now we are the fastest growing city in the nation. Some economists and urban planners say well be the next Portland within a decade.Being this the case I decided to buy a house, as a solid investment rn a typical 1,500 sqft house 3 bed1 bath is going for a quarter million. I approved for a 200k loan and found a gem of a house I could nab presale. Its worth in peak condition is about 240k, and the seller wants 210k, so Im going to try and get it for 200k loan and an additional 10k owner carry over 5 years. The reason its going so low is the interior and exterior paint needs to be redone, the floors and plumbing also need redone. Most of it I can do Im pretty handy, but still with such a loan Ill be strat Hing my finances to the very end.If the economy continues to grow Ill be set, but if this is just a mere housing Buble I may be screwed... Should I proceed?Assistant: What is your income? How much down payment? After down payment, what is your emergency fund? Human: 32,000 pre taxes. 0 down payment fha. My emergency fund is a little over 8k some of that may be used in fixing it up though.Assistant: LOL. Have you calculated your payments and property tax?!? My mortgage was 130 and payments were 750mth and prop tax is 4500 where I live.You are looking at a mortgage payment that is roughly your entire paycheck, not to mention insurance and tax. And cost of home repairs, higher electric and gas bills, trash collection, etc etc.At 32k you couldnt afford my house payment. Human: I have calculated my monthly payments including mortgage, utilities, and pmi itll be round 17k a year. I do plan on renting at least one of the rooms out and splitting costs. My main concern is long term equitability at this point.  <response>: So lets play this out. You make 32,000Idk how you fill out your w4 but Im going to just assume about 25 goes for taxes. So your take home 25 for tax is 24,000 Thats 2000 a month. 17,00012 1,417 a month I hope this is including your insurance for the house for just your home costs That leaves you with 583 a month left for all your other bills such as gas, other traveling costs do you have to pay for parking?, food, car insurance, car payment if you dont have a car payment, what will you do when your car breaks down? Use the 8k of your efund?, health insurance you might be on your parents, but what about in seven years when you still have a mortgage but now have to get your own?, and other bills you might and will have. Sure, if you rent out a room that brings in at best another 500 a month. But I still dont think that gives you enough room to save anything and especially if the water heater breaks, regular maintenance, or any repairs that you were wanting to do since you did say it needs some work. I think youre way over your head. I make 50k and I wouldnt even think about owning my own house yet. 