<prompt> Human: I am 26, still living at home with my parents with a full time job and earn about 59k before Tax. I have been looking to move out and start renting fairly soon but have constantly been told that rent is dead money and am better off saving up to buy my own place. This has been my plan up until now as I am feeling very restless and the need to leave the nest is strong.I also currently own a property with my sister 5050 share who lives there - for me it was only as an investment and have no intention of living there.I have about 90k saved up in an offset account which is cutting down my monthly interest repayments on the house. I am currently paying interest only - no principal. I was advised this by my accountant as they said at the time if I bought another property to live in, I should pay that off first and then think about paying off the investment property later.My dilemmas are the following:- I am not sure at this stage whether I would even be able to afford another property going solo this time with my wage, equity on the investment and money saved up - If not, I may be living at home for quite some time to save- I have plans to travel - Will using all my saved money keep me grounded? Additionally, I may decide to move interstate or to another country for work - will managing a rental property be difficult from afar?- Is rent really wasted money? I know for many it is the only option, but its not really a must for mine.The other option I have considered is buying another investment property to rent out, while also moving out and renting myself and use the rent to supplement my income to pay rent, interest repayments etc. Some of the above dilemmas apply to this scenario as well.The final option is move out, rent, have money on hand to do whatever I want with and come back to the idea in a few years time when Im in my 30s andor have a serious relationship going.Would live to know what others think or have any alternative suggestions as to what I should do.Cheers!  <response>: The rent vs. buy discussion depends on where you live. It turns out that in my area renting appears to cost almost the same as owning in the long run assuming renters invest the savings elsewhere, eg, index fund 7 interest, but in other areas this wont be true. Whether rent is wasted money is purely a matter of perception. Is interest paid on a mortgage wasted money? Are condo maintenance fees wasted money? Maybe. In reading about your situation, I think the bottom line is that you are seeking to hold two mortgages while you have a salary of 59k, which I think may be dangerous. I think that covering 1.5 mortgages may put you at risk of being house poor where you put all your money into housing costs and possibly entering into further debt to cover upkeep of the house. This is speculation though, as I dont know the average house prices in your area. If your sister falls on hard times and cannot contribute to the mortgage, you may have to pay that mortgage in full while also paying for your new mortgage. I think holding a second mortgage is too risky. 