Buying a house

[Anders]

[ QUOTE ]
[ QUOTE ]
This is poor advice imho, I have many friends that are older than I and have more funds(way more), when I "baught" my first house(2nd property), they all told me the same thing, buy the biggest you can afford.

[/ QUOTE ]

That's what mortgage brokers and realtors tell everyone, shouldn't be hard to figure out why.

Better advice, IMO, is to buy a more resonable house that suits your needs, and pay it off way early. Then you take your former mortgage payment and invest it in whatever.

And don't give me tax deductible interest blah blah, why would I want to pay 10K in interest to save 3K in taxes?

Debt = risk.

[/ QUOTE ]

My understanding is that ALL of the interest on a mortgage is tax deductible.