Compound interest means that you will be paying a lot more money for the same house if you buy over 30 rather than 15 years.
However, for someone disciplined, taking a 30 year mortgage and paying it off like a 15 year mortgage with significant over payments is a good strategy. It means if you need to tighten your belt you can always drop down to the normal payment for a spell without so much as having to speak to the bank.
The worst option is to take the 30 year mortgage and then buy the larger house that the longer period allows you to afford.
However, for someone disciplined, taking a 30 year mortgage and paying it off like a 15 year mortgage with significant over payments is a good strategy. It means if you need to tighten your belt you can always drop down to the normal payment for a spell without so much as having to speak to the bank.
The worst option is to take the 30 year mortgage and then buy the larger house that the longer period allows you to afford.