You chose answer 1: I’m worried about taking on mortgage debt or worried I have too much debt already.
Just like avocados have the “good” kind of fat, mortgages are often considered the “good” kind of debt. That’s because mortgages typically have lower interest rates than credit cards and your home has an opportunity to increase in value. Owning a home also may also mean tax breaks: You may be able to write off property taxes and interest you pay on your mortgage (though limits apply and you will need to itemize your deductions, so you should speak with your tax consultant about deductibility). Over time, your home can also build equity, which is the difference between what you owe on your home and what it’s worth.
It’s important to keep your debt under control in order for you to be confident in your ability to own and continue paying for your home. You can take steps now to pay down debt, such as cutting unnecessary expenses, getting another income stream, or prioritizing paying off high-interest-rate debts.