Remember when all you heard was, "Buy as much as you can". Well.....unfortunately that was a huge mistake. What ever happened to SAVING FOR A RAINY DAY?
When I was growing up, I was taught you should not spend more than 1/4 of your take home pay towards either rent or a mortgage. Today I hear it's closer to 1/3. Bottom Line: There will always be a Rainy Day for one reason or another. Employment is so different today from 20-30 years ago. Then, people stayed with their jobs for years and years. Today, everyone seems to be starting a new career every 2-3 years.
When BUYING A HOME, buy only what you need. Eventually you'll learn there is no satisfaction is loosing everything. DON'T OVER-BUY, PLEASE.