#4 – Investing Too Much in a House
We’ve concluded that buying a house is better choice for most people. However, one mistake that people usually make is buying a larger house than they actually need. Owning a dream home is nice, but you shouldn’t spend all your savings and other funds to buy something that’s way over your budget. It’s not a smart decision if you’re going to jeopardize your financial situation. Keep in mind that larger houses don’t only come with higher initial price, but with added expenses as well, such as higher taxes, maintenance costs and utility bills.