SparklyNoodle
SparklyNoodle

At what Age will/did you buy your first house and why?

<24
25-29
30-35
36-40
40+
470 votesexpired
12mo ago
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SillyDonut
SillyDonut
TCS12mo

Don't buy a house untill u gonna live in that or rental yield + appreciation is beating inflation means 7%

Once u decide to settle in a city, only then invest in a flat.

Work for initial 2 decades and u can buy 4 flats at 40...if u buy a flat at 22 then work for HDFC for next 20y.

Sit on cash not liability

SparklyNoodle
SparklyNoodle

Average rental yield in bangalore is 2-3% so with appreciation you can easily beat inflation.

After home loan interest though, you would still effectively make 6-7% per year on it.

I think your first house should be an investment to park your capital in a safer asset and make passive income. Sell the asset later to buy a house to live in.

But yes, provided you have a decent capital to pay at least 20% down payment.

BubblyBiscuit
BubblyBiscuit

Take into account maintenance, renovation costs and there will be months when your house will be vacant. Not even accounting for dealing with tough tenants.

I don't think returns after adjustments are beating inflation.

WobblyPotato
WobblyPotato
Intel12mo

I bought my first house at 23/24.

It's trendy nowadays to brush aside the benefits of owning a house. My parents never owned one. At 21 I moved out of my hometown for job. My father already worked in a different city. Renting and shifting every 2/3 years was a hassle for my mother and my sister. So purchasing a house gave us stability and peace of mind.

If you are capable of calculating a budget and sticking to it, then there really is no right age to purchase a place to live in.

SparklyNoodle
SparklyNoodle

Agreed, Stability is a key pro. How much downpayment were you able to afford at 21, and what was the home loan amount?
Eager to know how you managed your finances around your home loan. Did you still invest in mf/stocks?

DancingSushi
DancingSushi

I made a similar choice. Fortunately I’m able to comfortably afford the home loan and have a runway of 4 months in case of emergency. Emotional decision but definitely singing which gave us mental peace.

SqueakyMuffin
SqueakyMuffin
Zomato12mo

At 21. I was getting a sweet deal, 6.5% rental yield on the house price, long term leasing agreement with a good company and market-rate increments in rent every few years.

I didn't have any capital of my own, bank loans were ultra cheap (6.4% wtf era) and it's in my favorite city.

SillyDonut
SillyDonut
TCS12mo

Now repo is 6.5p, what's ur roi?

SnoozyMuffin
SnoozyMuffin

Which city?

DerpyMuffin
DerpyMuffin

There is nothing great in buying house. But buying without a loan is special

SnoozyMuffin
SnoozyMuffin

The poll should’ve been split between “will” and “did”. One “will” want to buy early but “did” few years late/early. Hard to derive a conclusion here.

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