Or you could get a 30 year mortgage and pay extra on the principle each payment - if you make more that month you pay more - less......you pay less.
Should you do it? Only if you walk into the house and know it's right. If you have to struggle to like it - then it's not the right house. And that includes the location location location.
Financially it's the biggest decision you'll ever make (House, Car, new roof - in that order). The bank will let you know if you can buy it on that aspect....
I love owning my own home. I'm single too so it's actually my castle!