I'm 22, living by myself, going to graduate school (in mathematics) next year. I've been living in an apartment the last few years and almost have been almost entirely supported by my father. This is okay with him; I'm an only child and he makes a fair amount of money, he's willing to support me.. We live in separate cities, so living at home isn't an option. I have a car and commute to campus.
Next year I'll be going to graduate school and be making roughly $20k/yr (US). My dad is willing to supplement my income as needed. I'm looking at places to live now, mostly at apartments in the $700-800/month range range (the city I live in isn't terribly expensive). My dad mentioned that it might be worth it to buy a condo. I will be in graduate school for the next 5-6 years and don't really want to move during that time. I looked online and there are several condos in the 90-100k range that seem appealing.
My question is this: Is it a good idea to buy a condo in my situation? I'll admit, I don't have much background in financial matters. If I can afford the upfront costs is a condo a better deal in the long run? Looking on zillow, it says for a 100k condo the monthly payments would be around $400-500--but this can't be all the cost, right? I still have to pay property taxes and whatnot. How would the monthly costs compare to an apartment?
A downside I could see is that it is more difficult to get rid of a condo, in that, I have to actually sell it as opposed to wait for the lease to end. Beyond that, I don't know too much.