<prompt> Human: My friend and I were looking to move out and rent a house. Instead we thought, why not just buy one? The monthly payments are cheaper and we are actually paying into the house instead of paying someone to rent it. We make about 1.2-1.7k a month each sometimes I make 2k and our roommate would pay us 500-700 to rent out our spare room. Also I have a fairly decent credit score and no monthly bills at the moment. Im aware that its a huge commitment for someone whos my age, but weve really talked about it and were ready to commit to living in that house for the next 10 years at least. My friend plans on being an orthodontist so hell be in school for the next 6 years or so but he still manages to land decent jobs. Me on the other hand, I get payed 15 an hour and Im going to community college while really just trying to focus on business. What do you guys think? Can we do it? How much should we put down?Anything else that Im missing that I should be asking? All advice is appreciated!! Thank you! EDIT: looks like this might be a dumb idea... but Ive learned a lot from your guys comments, so thanks!  <response>: Heck no you cant afford it. How do you think that is possible on 3k of income a month. With property taxes and insurance he mortgage payment will be around 2000 a month. Add another 300 a month for maintance. You should ha e 80k to put down 10k for closing costs 20k in an emergency fund. Do you have close to 100k saved?That doesnt even take into account why its a horrible idea to buy a house with someone who is not a spouse. 