<prompt> Human: Current Situation:We currently live in a townhouse Southern Ontario owned by my father. Rent and utilities come to around 1350 a month. I have 26500 5.95 in student loan debt and 26000 2.99 for a car loan He has 7000 2 owed to a family member and 3000 19.95 in credit card debtMonthly income is around 7000-8000 combinedI am able to put around 1800 a month towards savingpaying off debtHe is able to put away around 1000 a month towards saving and is making the minimum payments on debt x200B;The problem:I want to move out and rent something else that is nicer and more spacious my father creates a lot of drama as well, but average rent prices are between 1700-2200 a month not including utilities. He wants to stay in the townhouse we are in and save up to buy a house because he does not like renting. I do not want to buy a house because I want to travel and pay off my debt. x200B;I really dont know much about the housing market and mortgages, but I do know that the real estate prices in Southern Ontario right now are insanity. Condemned houses are selling for 450k. Smaller, decent sized houses sell for upwards of 600k.x200B;His plan:1. Buy a house for as cheap as we can get2. Live in it for a little while3. Rent it out 4. Buy another house for us to live inx200B;This plan just does not sit well with me, but again, I dont know much about the housing market. x200B;Can anyone offer advice as to whether or not this plan will work given our current income and expenses? I really do not wish to stay where we are currently, but I also dont want to be house poor.  <response>: Stay in the townhouse until all debts are paid off save up a 6 month emergency fund of cash Then look at rent vs buy. 