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.
Pro tip : If you are planning to buy house with 20 -25 years timeframe, AVOID... Job scenario is going to change drastically after 5 years.... Especially if you are in private sector. Govt employee can go ahead with their plans as usual...
However if you think you can afford a home right now or with loan of timeframe less than 7 years....tou can go ahead with it...
Thank me later!
Purchased a few properties this is my experience. The hotel that I own I like to stay in the room itself most of the time… cleaned regularly can take anyone there and go to home once in a while to meet parents. In the hotel I can bring anybody and they don’t know where I live is a plus
If you rent for life, you'll still be able to live in desired places at a lesser cost (comparing rent vs EMI). You can change every few years and that ways, you'll have the luxury of novelty too.
Downside is that you won't have a property to pass to your next generation in your will.
But seriously, is that why you should buy property? I think not.
Okay, next gen idea is not my tea.
Owning a house is definitely not financially sane but it has the cushion if things go haywire in life. I don't want to be a crybaby and run to my parents in such a case. It also cushions when separation from spouse (I'm thinking too far here, but facts)
A rented house will be cheaper (considering EMIs) if you need a cushion in life when things go haywire.
Same for an unfortunate situation of separation.
Considering the loan tenure of 20 years, it's going to stay for a longgggg time in our lives. And it's very doubtful that mishaps will happen after the loan is cleared
Have one property that you own atleast. It’s always a good hedge against circumstances in this country.
I’ll go first, getting that old PSP, the one which had WiFi in built. Or maybe PlayStation 2 which was like 5k-6k back then.
Now, I could get a PS5 or buy games to play on my PC, but the feeling is lost. Just like my childhood.
I g...
What are you earning for ? Is it concrete or something vague that one day you will need this amount or something? Is it more than you or your family needs?
Or are you just a sheep like me ?
What are you earning for ? To meet existing cost of living, have runway for 5+ years, medical emergency fund...
With rising prices of properties and houses, my dream of building a home will remain dream for me. When will that day come when common people will be able to buy property. All good properties are worth more than 1.3 cr. Home loan is al...
