Flat Purchase - 1.5 CR for 3bhk
Is it wise decision to purchase a 3bhk flat in Whitefield for 1.5 cr ? Current monthly saving is around (2.5 lakh). Total saving till now - 20 lakh
Whitefield is a premium area I guess. So the price looks legit. But then your saving of 20 lakh is peanuts in front of that price. I don’t find it wise to spend this kind of money when your saving is so low. One should have a saving of 75 lakhs and then think of buying this kind of flat.
Hahaha this is what high rents do!
Wait a few years, interest rates will go down, and you’ll have more savings🤞
On other note where in whitefield are you finding a 3BHK for 1.5cr!
Interest goes down only when the inflation goes down...inflation goes down when the money velocity goes down...money velocity goes down only when the consumer demand goes down ...consumer demand goes down in a recession...in a recession you will not know when your last day will be...
Have you noticed the least of housing demand is when the interest rates are low...it was in 2009...and in 2016 after demonetization
Keep dreaming about past good days and low interest rates like the people in US
Is the savings per month combined with spouse?
Are you able to survive a job loss and still pay EMI for a year?
If you have a kid and have to take a career break are you still able to absorb the EMI and still pay kids school fees?
If the answer is yes, go ahead....
If you are buying due to FOMO and rent increases, the answer is astounding no...
On a side note...the prices in Whitefield have almost hit a peak due to metro and only going to stabilize from now on.... I hear the is massive water problem in Whitefield....
Do your due diligence and all the best!!
Which part of bangalore is good for a rental investment ? I have been searching for some time now.
BiryaniEnthu
Stealth
a year ago
The price is very good.
Are buying an under construction one?
Keep due diligence of builder, location, water and electricity infrastructure
Also congratulations! Buying house is a huge step
AliveYouth71
Stealth
a year ago
Nope, bangalore is urban hell. Dont invest there
