Give yourself a break and quit the comparisons. Social media has given folks an extreme set of expectations when it comes to real estate. Yes, you need a roof over your head, but you don't need a royal palace. Especially if it's your first home. Take your time, find something that suits your needs, and don't overspend.
When it comes to getting a mortgage, I recommend one where the monthly payment is no more than 25% of your take-home pay on a 15-year, fixed-rate loan. (Take-home pay is the money that's yours after taxes are taken out.)
Yep, a 30-year mortgage would have a lower monthly payment, but also a MUCH higher overall pricetag. Seriously, a 15-year mortgage will cost the average home buyer in America hundreds of thousands of dollars LESS than a 30-year mortgage. The more expensive the home gets, the more that gap widens. Don't ever get a 30-year mortgage.
For a first-time home buyer, it's best to save up at least 5% of your target home price for a down payment. Saving a 20%...
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