<prompt> Human: I am 22 and currently have 10k in savings and I save roughly 700 a month after expenses. I also make 61k a year and receive a 4,000 bonus every year. I am looking to buy a house in 2 years around 180,000. Would that be a logical purchase?Assistant: A 20 down payment is a Good Thingtm. That would be 36,000. You currently have 10k and can expect to save 8.4k, and presumably the entire 4k bonus. This total still leaves you very short of the 20 down. It also strips your savings and leaves you house rich, cash poor.Id suggest saving harder, for a longer period of time. Pull the trigger on a house when you can put 20 down and still have at least 3 months life money in bank.Human: Why not 10 for a first time house? Also confused on how you expect to save only 8.4k plus 10k. 700 per month times 24 months and 8k in bonuses. That is a little over 24k.Assistant: Misread on the time period. :o Why not 10 for a first time house?You pay more with this low a down payment.Human: Right, but wouldnt that be better than paying for rent every month?  <response>: I cant offer much more than other posters have, but I liked this way of thinking about it: Rent is the maximum you will ever pay in a month; mortgage is the minimum you will ever pay in a month. Property taxes, homeowners insurance easily 10x renters, maintenance, repairs, supply your own appliances, lawn care supplieslawnmowera shed to store them in... the sky is the limit. 