Taking on a mortgage has become somewhat of a possibility for me given I recently signed a three year contract with my current work place. I was previously on a one year contract which was due to end next month, and really didn't have much of an idea as to what to do after that.
Call me pessimistic, but at this stage, I proceed on the basis that I may not get another extension after the three years, or I may not find another job after that. In that scenario, it would be really risky to take on a mortgage.
On the other one, some would say "you've got years of experience, you'd have no problems finding another job", and so if one were to assume that, then I probably could take on a mortgage.
So I was just wondering if this has ever been an issue for others here? How much security and stability do you require for yourself before taking on a mortgage? Am I being too risk averse, or am I being somewhat sensible?