<prompt> Human: Hello all,I was hoping for a bit of advice on an opportunity that sprung itself on me. One of my Distant relatives has retired and moved to a lower Cost of living state, selling my Uncle his house for 180,000.00. My Uncle fixed the place up spending over 30,000.00 on upgrades and doing things to bring the place up to code and is willing to sell me the house for 200,000.00. The house just for the area alone can sell over 230,000.00. I have gotten pre-approved for a 200,000.00 30 ayear Fixed Conventional mortgage loan based on my information that i gave to my bank and im just wondering if its something I should go for. The reason why I want to go with it is because my grandmother passed away 4 years ago, leaving me 20,000.00 which I would use for the down payment. I guess my question is, Is it a good idea to be a sole home owner making 36K a year on a 200,000.00 mortgage?If you need any additional information please post and Ill answer it to the best of my ability. thank youEDIT:I want to thank you all for your invaluable opinion based on the numbers. Numbers never lie and since I would be paying half of my monthly earnings on just mortgage alone I definitely cant afford this house. I kept being told that Id be taken care of by family if there was anything I needed so I put my trust in that but honestly Im not comfortable with it at all. Maybe in 5-10 years I can revisit it after Ive saved up a bit more of a downpayment. Thank you all for your adviceTLDR: Wont be getting the house. BF and I will move into a lower costing apartment within a couple of months and save up for the future.  <response>: No. Far, far too much house for someone making 36,000. 