Hmm.. not sure. If you get mortgage in order to rent out and create passive income – then yes. If for your own – buy small, pay out then move to bit bigger. If you get a big mortgage for the house you are living in- no passive income from it, and throughout the 25-30 years, will overpay 3x.
But I completely understand the mindset – to have your own place. In this current state when rent is same or higher than mortgage – I see the point to get property for yourself. But start small, pay out- remortgage wisely and get another property. Have to be smart with finances. Unfortunately nobody teaches this at school, to set good financial habits from the start.
Sorry for the long answer, have to keep in mind, that each situation is different and approach might be different.
Taking money out of your pocket almost for life.
This sounds like something I would have liked to say but I lack the education about mortgages. I do know that a house is a liability in that it takes money out of your pocket unless you are buying and selling. Even to hand down to a family member can cost, right?