Yes but my question is who will redevelop the flat once building will be demolished

UX/UI Designer

Again we need to pay construction cost to developer or Society?

Product Manager

That's one the good investment i have ever seen

Software Engineer

Flat owners pool the money and construct. As land is already available it works out to be cheaper.

Means after heavy loan of 30 years, Again i need to break my FDs which I kept for the eating and electricity & medical expenses?

Life of apartments will be more than 30 years or let's settle at 45 years. Because every 5 years or so, painting, patching etc usually done. 
  
 The floor space index can increase. So if G+3 is approved now, in future the it could be G+5. The owners can get into an agreement with Developer that 4th and 5th floor will be for him. Till G+3 will be for owners. So the cost will decrease. Buying apartments  is not a good thing in BLR (I don't know which city you are from) unless it's a very good deal like in resale. BLR is residential driven and different from Mumbai, Delhi etc which is more speculative. Anyways, the cost of ownership doesn't end just once. Live with it or buy a plot/land and construct on your own which is excellent VFM.

Now a days why people are investing in flat and they don't even know or ask that after once building age is over who will construct the building again.

Welcome to Personal Finance's Private Community

Investing in Flat

Investing in Flat- Grapevine

Is it true that the re-sell value of old flats (>20 years old) is bad? 

As a buyer would you buy a 20 year old flat ?

Answer this considering that the build quality of the majority of builders is below average in India.

Buying flat for long term investment purpose

Software Developer

What happens after you buy flats? I understand there are different categories, some cases you pay pre construction, often during construction and sometimes ready to move.

But what after 50 years? When the building is old? Do the constructors break it down, build another building and give you a new place? Or is it like you buy for 50 years and that’s it? Building gone, your investment gone.

also who decides that it’s time for the building to be demolished and reconstructed?

How does it work? Otherwise what’s the point of buying of flats? Isn’t it better to just rent?

what happens after you buy flats?

Business Analyst

Context - Buying as an investment, don't plan to live there. I plan to live on rent. Current rent is 17k/month.

I'll keep it short for max input. I'm looking at some flats priced around 60-70L for a 2BHK. Rent in the area will be ~30k. If I pay 20L down and take a home loan for 40L, EMI will be approx ~65k for a period of 7 years (I want to pay it off ASAP, to pay the least amount of interest). 

I earn around 1.5L per month. Personal expenses are ~50k per month. Assuming I get 30K as rent I'll have to pay a maximum of 40K as emi. This is a very recent thought on which I've just researched for a couple of hours so apologies if I missed anything important but honestly this looks quite doable to me.

[NEED ADVICE] Should I buy a house at 23?

Frontend Engineer

Flats or plots? Please share your inputs!

Flats: You save money for a few years and give most away as downpayment. Then for the next decade or more a major chunk of your salary goes towards EMI. By the time you are done with the EMI (10-20 years) the flat is now old, hasn’t appreciated much and selling becomes an issue. Add to it building politics, lack of maintenance in many projects etc.

Plot: You buy a villa plot or some 200-400 square yard plot in a developer’s plotting project. After 10-12 years that project might not have taken off as no one really is building a villa there (seen such cases around Hyderabad a lot) and you might not be able to sell it too!

Is my understanding wrong? With no ancestral property to rely on I see myself living in rent and although it is relaxing for now, I can do with some guidance on buying a house / land by people who have done it and your views on it?

Real Estate Doubts

Finance Consultant

What’s the biggest financial mistake you’ve made in your life so far?

Mistakes

Technical Writer

It is not the usual society rule, but I have had this longing of own house.

Childhood was spent I  government house, adjusting with members of family.

Now I am earning fine, will have 20% of loan in liquid cash by end of year.

But I also have practicality now. No fancy house are spared in these rains, there are so many repairs - one thing is repaired, second one goes down then third then fourth, bigger the house more you have to clean - wtf is this dist coming from, then you have asshole neighbours. And be scared what if there's a fire, robbery, calamity.

I had just one dream, but really rethinking the whole plan now.
So lost to be honest.

My one dream is own house, now reconsidering

Consultant

Family is pressing us to buy a house but I don't have any treasure even to put a down payment. Terribly frustrated.

How do you cope up with family members pressing you to buy a house?

Security Engineer

What would be a better investment opportunity in Bangalore. Is it worth getting an apartment on loan and pay the emi from rent received? or would it be better to get a land a little away from the city. if yes then which areas would you recommend.

Flat vs Plot

I wonder what exactly flat owners do after taking 10 months of deposit around 3 lakhs? Do they put in FD or invest somewhere?

What do flat owners do after taking 10 months of deposit?

Super frustrated with my job( love the money bit it sucks my peace of mind) . Have savings(combined me and my husband) of 5 cr(MF,FD,PF,ppf) . No assets. When can i leave this corporate slavery?

Investing in Flat

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