Growth Manager

Just thinking around if how we tenants (who have moved to a city for work)  manage to pay high rents, security, and also splurge a little since we've moved to a new city. Many take loans or depend ...

Welcome to Personal Finance's Private Community

Just thinking around if how we tenants (who have moved to a city for work) - manage to pay high rents, security, and also splurge a little since we've moved to a new city. Many take loans or depend on their parents, did you face any challenges in taking loans?

As a tenant, do you face any issues in taking loans?

Product Manager

As a tenant, do you face any issues in taking loans?- Grapevine

Welcome to Fintech India's Private Community

Asking from people who consider that one should strive towards owning a house (or an even stronger stance that not owning a house is not an option for them).

Really want to understand their POV. 

Why are you comfortable taking 15-20 year loans for the dream of owning a house?

Owning a house, what's the appeal?

Business Analyst

Hello folks. While I'd like to remain anonymous very much, here's what I can share about myself.

1. Working in consumer finance.
2. Love personal finance and helping people out with it.
3. Have published 10,000+ pieces of financial content in the mainstream media.
4. Wrote a best-selling book on money management. It was No. 1 on Amazon once upon a time. 
5. Lately been appearing on TV regularly for personal finance discussions.
6. Saved like crazy through my 20s and 30s, brought two apartments; have an 8-figure net worth mostly thanks to my mutual fund investments. It's not much but it's hard-earned.
7. My unrealised aspiration is travel and I'm working on it now.

No, I'm not selling anything. No commissions, no referral links, no finfluencing. 

Just want to talk, exchange ideas, and learn from you all. Maybe I'll feature you in my next book. :)

Ask me anything.

Let's talk money habits.

Corporate Strategist

Next month I'll (26M) be taking a personal loan of 10L to pay off my family's borrowings. 

1. Any tips on managing the loan?
2. I have a good credit score so I can get it through a national bank like HDFC, SBI, etc.
3. Shall I pay it off in one instant in future or keep paying EMIs? I say one time payment because we plan to sell some property in future to get liquidity. 
4. Anything else I should take care of? 

I have savings of around 5L and I have a stable job for next 6-12 months (it's a startup so things are lil shaky right now). I plan to find freelance projects and increase my income. But this is the first time I will be taking a formal loan so it seems like a big and long commitment. 

Thanks!

Getting a loan soon, anxious about it

Founder

Considering the ongoing debate between renting and buying a flat, I've noticed many financial influencers suggesting renting and investing in mutual funds. However, there's a strong emotional aspect to owning a house, especially post-marriage and kids. What factors should one consider before purchasing a flat in metro cities like Hyderabad or Bangalore? Personally, I've contemplated buying multiple times, but after analyzing my finances, I've hesitated. I'm currently leaning towards ensuring my net worth covers at least 60% of the flat cost when making such a decision. In the long run, I believe the interest earned on my net worth could potentially cover EMIs during challenging times, like job loss or unforeseen circumstances. For instance, if I opt for a 2 Cr house, I'm considering a minimum net worth of 1.2 Cr across various asset classes like Mutual Funds, Stocks, PF, PPF, NPS, SGB, and more. What are your thoughts on this? #MiddleClass :-P

Buying vs Renting a House

Software Developer

Welcome to Software Engineers's Private Community

I want to buy house, my package is around 15LPA but a  good 2bhk flat in the apartment will cost 1.4crore, for me it looks like impossibile with my current salary. I am totally stressed out with this.

I need your suggestions.

Buy House

Software Engineer

Folks who bought real estate in Bangalore (primarily for living in it), what are some things that you wish you knew earlier before buying the property?
Also what are some things you would advise to new folks who are looking to buy property now?

I’ve been looking to buy a flat and have mostly finalised on A+ builder(Prestige) society but wanted to hear from experienced folks once. 
And I’m not a huge fan of taking hefty loans so planning to do around 50% in down payment and 50% in loan which I will aim to finish within 5 years. Is this a good approach??

Bangalore Real Estate

Welcome to Indian Startups's Private Community

I'm building a platform like Paisa Bazar, where I will be selling credit cards (I have a online distribution network from where I'll be diverting users)

On very cards landing page I want to list all offers for that particular card, From where can I get all these offers.

Questions form finance industry veteran and Ninjas

I am a 22 year old Male working in Mumbai. I have just over an year’s ago experience of working in a consulting firm. My base is 26-30LPA. For those whose have invested in properties (residential), and those who chose not to - is it ideal for me to take a loan to buy a house for my parents. It’s price is ~1Cr and I’d be taking a loan for 5 years. I am wondering if a liability would hamper my growth (personally or professionally), or would this be a worthwhile investment. I am confident about the investment itself, as in i expect it to appreciate in value, but still have doubts about taking a loan. And advise/opinion would be helpful

Advise on property investment

Strategy Consulting

I stay with my parents in a tier 2 town. We have a 800 sq. ft house which is more than 100 yrs old. We are really scared of living in this home as it is fully damaged. 

Yesterday one incident happened one of the walls got demolished. Fortunately we were not there at that time. 

For the past few yrs, We wanted to reconstruct our home from base, but the total cost is around 20 lakh. 

I have been working for the past 2 yrs but hardly able to collect 3 lakh as I spent most of the money by giving it to my father during my sister's marriage.

Guys, can anyone suggest 🙏🙏 there is any source or platform from where I can raise funds. We need to raise around 14 lakh.

Guys need your valuable opinion!

Analyst

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 other expenses (along with 60 k emi). but when I see people with a salary of 50-60k per month buying the same houses. how are these people planning it out? and most of the people earn between 30-60k how you guys are planning it? how should I plan this for myself? and 20 years of repaying the loan. i feel it's a trap.

House property prices in metro and semi metro cities?

Who doesn’t hate paying taxes ? Please list down some of the underrated options, hacks, workarounds, tips & tricks to save taxes. 
(Should be legally right, can be ethically wrong) 

1. exploiting 80G can be one way to save taxes (if you have good contacts) 

List down more…..

Brilliant Tax Saving Ideas

Analytics Manager

Short built up .

YOE 10 
CTC Base : 33 ( it's below  gv standards )
Debt free no emi .

Need suggestions to grow at least 10x in upcoming 10 years . 

Monthly expense : 25 k frugal lifestyle. 
Corpus remaining: 150 k permonth 

Married  no kids . 

Savings till date asper snip attached 1.27 cr

Roast me on savings made till date

Cybersecurity

Recently my friends moved to 4 BHK apartment near Domlur. The total rent is coming to 1 Lakh for unfurnished apartment, it has some really good amenities.

All 3 of them have offices nearby, and I work remotely for a US startup. After, furnishing and one time setup, just rent is coming to 32k. I am unsure, whether moving there would be worth it or not for me.

I really enjoy company of my friends, but the rent for me is expensive + 6 months deposit. I can definitely afford to pay that much rent, but not sure whether it’ll be good decision or not because of market conditions and tons of uncertainties. I cannot back out if I say yes.

I am super confused, one side I want to stay with friends and on other side rent and deposit is worrying me.


Would love to hear thoughts of you all. 🙏

Is it worth it to pay 32k in rent for a room in bangalore if you work remotely ?

One of the reson for increase in rent especially in Bangalore is these early 20s bachelors earning min 20 to 30LPA, who think when splitted rent into 2 to 3 flatmates it will be less than 30K. They don't know the struggle once they get married and is a single earner in the family.

Have you guys ever considered investing in real estate? What are some of the biggest challenges you have faced? (Doing preliminary market research. Thanks in advance)

Challenges in investing in real estate.

Looking to understand the new to credit market better to ideate a solution for them. Any research that can help? Also very keen to chat if anyone is thinking about solving for this market too!

As a tenant, do you face any issues in taking loans?

Discover More

Fintech India on

by Jordon Carmden

Stealth

Owning a house, what's the appeal?

Personal Finance on

by Anise Lee

Stealth

Let's talk money habits.

Personal Finance on

by Jordon Denver

Startup

Getting a loan soon, anxious about it

Personal Finance on

by Isaiah Everett

Stealth

Buying vs Renting a House

Software Engineers on

by Kendall Gabriel

Startup

Buy House

Bangalore on

by Blair Lee

InMobi

Bangalore Real Estate

Indian Startups on

by Isaiah Carmden

Amazon

Questions form finance industry veteran and Ninjas

Personal Finance on

by Coy Gabriel

Urban Company

Advise on property investment

Misc on

by Kendall Everett

Accenture

Guys need your valuable opinion!

Software Engineers on

by Anise Gabriel

Jupiter

House property prices in metro and semi metro cities?

Indian Startups on

by Kendall Taye

PhonePe

Brilliant Tax Saving Ideas

Personal Finance on

by Isaiah Carmden

Continental Automotive

Roast me on savings made till date

Bangalore on

by Kendall Dean

Stealth

Is it worth it to pay 32k in rent for a room in bangalore if you work remotely ?

Bangalore on

by Jordon Nadeen

Swiggy

Challenges in investing in real estate.

Indian Startups on

by Jordon Lee

Stealth

New to credit janta