<prompt> Human: So I am 18 and currently in college. Next year I will be a junior in college and have will graduate by 2019. I was looking into getting an apartment for the next school year but then decided to look at houses . I have 18k saved up and will be making another 4K this summer from internships. During the school year I work part time and make around 400-600 a month. If I live off-campus I do not have to pay anything for school. I found a lake house for sale around 10 miles from my college. It is a 1 bedroom 2 bathroom house, but can easily by turned into a 2bedroom house by adding a wall. The upstairs is all one room. It is located in the lake with a beach and a dock. The house is 900 sqft and is selling for 68,000. According to my calculations with a 15 year mortgage and utilities it should cost me around 800 a month to live in the house along with 14k for a down payment. So I guess my question is, would buying this be a bad financial decision? I would be spread pretty thin if I did buy it. I do not plan on living in the area after I graduate, but it is lakefront property and has lots of potential to gain value, especially since its getting warmer sooner and staying warmer longer Michigan. Assistant: 1. Youre a college student2. You have a low income3. You dont plan on living in the area after collegeOwning a house isnt so black and white. There are extra costs associated with ownership.Human: Could you be more specific when you say there are extra costs? I have a rough estimate for property tax and I would have support from much of my family. My grandfather has actually bought and rented house for almost 50 years now.  <response>: Youre responsible for maintaining it. Things go wrong all the time with a house, and when they do, the repair bills are seldom less than 4 digits.Owning a house isnt something you can kinda just dive into. It requires a lot of careful planning, especially financially.Also, what do you plan on doing after school? If youre not in the area, are you going to have to get a place to live elsewhere? So youll be paying for rent, food, and associated living expenses and then also taking on the 800 from your other place? That sounds a little iffy. 