We have a family income of 45L in Bangalore still don’t feel that we can afford a 3bhk in Bangalore. I’m not sure who is able to afford these houses. I calculated an emi of 75k per month for 1cr loan and I’m not okay to pay it.
Is it super inflated market?
Am I missing something?
Is my income not good enough?
Are the returns exceptionally well?
What’s the catch. Please educate me folks on this entire real estate games
At this pace, will never be able to purchase a house🥲
Most people cant buy a house without loan. The market is overheated, no doubt on that. But the odds of it falling is very less. A time related correction in prices is possible. Returns will be sporadic and will not be for the whole RE market. Sporadic in the sense, a particular area might go up more than the others. Too many bigges are invested in RE so correction might not happen. So if you are currently on rent, and have spare cash and are looking to be in Bangalore for the next 25 years, then you can buy. one house for living is a ideal purchase, beyond that its worthless. The only way we are going to get returns is when/if The NRI crowd returns.
Your income is not the problem, the problem is your mindset. You're looking at the EMI, not the asset. "Ghar khareedna hai ya EMI dekhna hai?" (Do you want to buy a house or just look at the EMI?) Is your focus on creating wealth or just paying bills?
Would highly suggest you to check resale options. Much better prices and ready to move-in, you don't pay extra interest till the time of possession and don't spend on interiors too.
Wait for 2 years and pay upfront and rest of it as loan for 20-30 lakhs?
*game
I am earning lakh rupees a month(excluding my monthly expenses as a single). but when I think about buying a house (2bhk around 7.5 to 8 hundred sqft) in a city like Pune/ Banglore. I feel I will not be able to afford it considering oth...
I'm 26 years old and married. I'm having 4 YOE. I'm thinking of buying the flat in which I'm leaving as a tenant. My current rent is 6k. The flat would cost up to 22L. I've 5L as cash flow. Should I pay it as a down payment and take a lo...
Should i buy a 3 bhk in Bangalore which is of 1.5cr or 2cr, and pay the Emi for next 10-20 years. Or i should consider some other alternatives.
