<prompt> Human: Just signed a 4 year contract that pays me 38,000 annually. My parents bought me a very nice apartment 2 years ago with the intention of transferring it to me once I graduate which is next semester. I need to pay 32,000 annually for its debt service. That leaves me with only 6,000 each year!What should I do?1. Keep it and possibly have an awesome time with it.2. Find a roommate. Split the bill it has two bedroomsbathrooms.3. Put it up for rent already have a potential tenant and break-even on the payments. Live with parents :EDIT 12hrs after post: I sat down with my parents and renegotiated. We decided its best for both of us if I contribute 30 of my salary after taxes towards the debt service until I reach a higher income that can support it. Thank you for all your help and support! Its my first post on Reddit and I have to say, it was quite resourceful.Assistant: Off the bat, Id go with 2 if that brings it into the affordable range and its a place you plan on staying for a while, and is close enough to work to be affordable in terms of commuting and such. Im a little confused by this, however. It sounds like your parents maybe put a down payment on this place for you, and now you have the mortgage to pay off on your own? Honestly, it sounds like its way too big of a financial commitment at your pay level. Id love to hear some more details about how this came to be.Human: It was a foreclosed property. My parents bought it for a huge discount 2 years ago. They were able to finance the property without having to put any down payment, hence the high annual payments. Theyve been holding on to it while Im finishing college, but their initial plan was to transfer it to me once I graduate and get a job. I graduate next semester.Assistant: Was this their decision, yours, or a joint decision? It looks to me like your parents are putting you into a horrible debt situation and MOST people cant afford. Some people say your mortgage payment shouldnt exceed 36 of your income. This means to afford this house youd need to make 88,000. side note, I think 36 is too high, but thats a common number people useHuman: Although I did not take part on the decision making, I feel it is partly my fault for not objecting to it beforehand. The reality of the situation did not hit me until now.  <response>: Many people on this subreddit like the blame the parents when young adults make poor decisions. Here it wasnt even you that made the decision. If you ask me, this is a 99 their fault and they need to help to resolve it. Unfortunately Im feeling its highly likely that your parents arent in good financial shape either. Unless the property has plummeted in value, I still think you should try and sell it. 