<prompt> Human: Update Reddit, Thank You! It took almost 3 weeks to help my dad see through, but the numbers finally started making sense to him. At the end he decided to walk away from the purchase forfeiting the 2k he had put down as a deposit. Oh and now, years later, hes finally interested in Reddit :P ---Hello, My dad is buying his first house. I think its a bad idea. Here are the numbers... Dads Profile Age: 61 Income: 100k before taxes Savings: 80k Retirement: None Other investments: None Debt: 15k Monthly expenses: 1500Investment Price of House: 340k Mortgage: 15 years 3.6 Credit Score: 670s Property: model home in Houston suburbs Down payment: 60-70k He plans to live at the new house and within 2 years try to sell and make some money. Since property values are rising in Houston. He isnt a well informed home buyer and is pretty much trusting his realtor for EVERYTHING. I would hate to see my dad in a situation where he has invested his hard earned 60-70k. What do you think, Reddit? What do you think he should do?  <response>: Even if the Houston market continues to go up he will never recoup Realtors fees and closing costs. In addition I dont believe Houston Real Estate will keep rising. Tons of houses have been built this year and oil prices have dropped 20. 