Stretching yourself with a mortgage; is it worth it?

blizeH

Excellent post, thanks Roberto - I guess that's exactly it, if I find somewhere nice that fits into the b) category then great, fantastic, and if I want to edge into category a) then at least I have the option, if I find something I really like.

I think I just wanted to make sure I was getting my sums somewhere near correct - I don't think buying anything in category a) would put me massively at risk, no more than any other first time buyers anyhow, but of course something in category b) would be preferable.

Question is, if I go into an estate agents with that kind of attitude, I'm guessing there's practically zero chance they'd recommend me a house from the cheaper one

RobertoMoir

Not hardly but then you don't have to tell them what money you have, you just have to tell them what properties you're interested in.

blizeH

Ahh, thansk Roberto - I'll start contacting them then I think!

Do you guys think it'd be worth me contacting some sort of financial advisor? Just to discuss what I mentioned in the original post really, there have been a lot of fantastic replies here, but I'm still split on the cheap house no mortgage vs more expensive house with mortgage thing - although as you said it's worth noting there's a lot more to consider than just finances I think if I just had a clear amount that I'd save x amount extra by going for the cheaper house, it'd help me decide what to go for.