<prompt> Human: Hello,I graduated a year ago in California with an engineering degree. I make 75k a year but just recently started this current Engineering job in North County San Diego area it is my first engineering job about 3 months ago. I had jobs all through out college and high school which is about 7 years in case that matters for loan considerations. I currently pay my school loan which is 300 a month I can most likely stretch this to 200 a month. I take home a bit over 1900 every two weeks w my retirement and 401k dental vision etc taken out of my check. I am currently living with my father and help out with about 350 worth of bills. I have a long commute which cost me 300 a month in gas. Other things, I eat out maybe 3 to 4 times a week fast food no restaurants and like to go out and live my life. So Im currently saving about 2.5 grand a month maybe more. I currently have 7 grand in my bank account.I have until September before my father moves away and Im on my own to pay for a place. Ive been looking at renting and the cheapest places that are decent are about 1650-1800 a month including water and trash. It will be right next to my work. The condos around here are 320k to 400k.. the market had a 13 increase just from last month to this month. I am torn between seeing if I qualify for 3.5 loan or put my money into renting to see if this is something I surely want long term. Any advice is appreciated to what direction I should take..  <response>: Try this calculator.Its not perfect, but itll give you a sense of how long youll have to stay in your home to break even. Home ownership is very expensive, especially in a sellers market. You may pay 5-10k as I did to cover closing costs, plus 500-1000 for an inspection which you will pay, regardless of whether the house comes back clean, plus the down payment, which will be at least 20k for a 5 conventional-loan down payment. Then youre on the hook for PMI until you break 20 LTV. On a 400k home, youll need to pay the loan down to 280k to get there. That will take years, or youll be house-poor from paying it down quickly.Then theres first-year costs. Your washer breaks catastrophically and you need to replace it? 600 right there. Furnace? 100 for the technician to show up at your door. Plumbing? Jesus, pray that you never need a plumber on a weekend or holiday. And thats repairs. You also probably wont afford a house thats good to go after closing, so budget in another 20k for remodels, and thats extensive DIY work. A reputable contractor will maybe do a master bath for 20k, so budget 100k for renovations if you wont do it yourself.I was a live-in landlord for 18 months after I bought, and although I was happy to have the income, managing other personalities in your home -- especially people who owe you money every month and have no emotional attachment to you whatsoever -- its not fun.You are, in my opinion, far too young to buy, but that doesnt mean youre not in a great position. Save your money, travel, contribute the max to a Roth IRA, and up your 401k to 15 or so. 3800 take-home is a lot for a person your age.If you are single and a young professional, its foolish to exist in any space larger than a decent studio or small 1BR. It is far cheaper to downsize your possessions than to rent more space for them. 