<prompt> Human: Firstly, I apologize as I know this subject has been posted before. I just couldnt find any situations in my search that connected with me.My boyfriend is 29, and I am 25. We have been renting a house for a bit shy of 2 years our lease was up a few months ago, but our landlords are planning to sell it to new owners. He is convinced that the new landlords will raise the rent at least by 350 more a month. It isnt an amazing house and no updates have been made since weve lived there, but that is his belief.The new owners still plan to rent the house to us, though my bf does not want to sign another lease as he has been wanting to buy a house for the past couple of months. The possible rent change which I am not sure what the odds of a 350 increase are is causing him to be as adamant about buying a house as ever, as he believes it is stupid to pay almost as much in rent for a house payment where we can ultimately own the home. He is 100 sold on wanting a house.BUT he has less than 500 in savings. I have less than 500 in savings. I make about 45kyr, and he makes 27kyr, before taxes. He has suggested borrowing from our 401k to cover a 6,000 down payment, which I have said is a HUGE no-no, but he still believes it is doable. We have no emergency funds to be our safety net. Our parents are not at all in a place to help us out. We are not married which I refuse to buy without being married, and he again thinks it is stupid to spend money on a party when it could go towards a place to live. As you can probably tell, it is hard to discuss my doubts without him getting worked up, but that is a post for rrelationships.Aside from me simply not being ready for this huge commitment, I just do not think it is at all financially wise for either of us, as either of us would struggle to do it on our own. It seems to me that continuing to rent our current home might not even go up; I dont know how to go about finding out the new owners plans while we bulk up our savings is the best, and possibly only, option.Thank you so very much to anyone who readsshares opinions. I appreciate your time.TL;DR: No down payment, very little savings, no experience in owning a home. Please give me some good points to make when I construct a PowerPoint presentation about why buying a home is a terrible idea for us.  <response>: BUT he has less than 500 in savings. No way, you guys arent ready. When you buy a house, theres no landlord to call when the roof is caving in, or the water heater stops working, or the AC isnt blowing cold. Going into a home purchase with no emergency fund is a recipe for total disaster, and the disasters seem to seek out the people who arent prepared for them. 