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

Well nothing wrong unless you have other plans to quit your job and take risks. Initial 3-5 will be difficult, but better take it on before marriage and kids.

Don't buy a house before you are 30. Limited income equals limited loan eligibility equals compromised choices (size / location). Build up risk mitigation, emergency funds, a significant corpus before a sunk cost asset is on your radar. By 30 you'll have a good sized income, some sense of direction in your career and can afford a bigger house / better location than you can when you are 25. * @xLforgel If you are 30 already, wait till 35 :)

No amount of objective calculations or math will help you convince them. Please do not give in to their pressure tactics. I’ve been a victim and it’s one of the worst financial decisions i’ve taken and i still regret it to this very day.

Do the math and show them. Example - if you earn 1L a month now and buy a flat of 1.2 Cr with 1 Cr home loan, you will have to pay x every month for 12-15 years. That it will make you a slave to the loan in the near future at least. If they still insist on it, then God help you lol.

This is becoming an universal problem @xLforge Only way out is to ask them the down payment 😃

How does family actually put pressure?

It depends.... I prefer investing in property or gold.... Currently only invested in property, sips and fds. Making ~15% growth on investments atleast on paper. Made 1 house. Planning to buy a plot or 2nd house.From investment purpose - it is a great move. Type of property to buy - Must come with plot i.e. You own the ground. If it is a flat then it is kinda not a good investment. Plots which doesn't have a main road next to them but will be in next 5 yrs are best investments. Only the flats with high throughput in demand such that rent can cover like 40-50% of the cost in 10yrs. Pros - - generates wealth at a better rate than anything else. - can be repurposed and utilised to make more wealth Cons - - asks for a lot of commitment - no liquidity left - other channel of investments will get subdued substantially - have less money to enjoy See what works for you.

Take your time. Build your career profile. Have a very good credit history and credit score. Gradually build your investment portfolio. Once you have enough money for down payment and you are sure about your career trajectory, then buy house.

My dad was behind my ass constantly about buying a house and how I am wasting my income. Tried showing him calculations and YouTube videos but no avail. Made a list of apartments that are for sale and booked Ola rental for a couple of days and visited most of them. Showed negative Google reviews of builders who were giving good rates and the risk of going with them in the long term. Bigger builders were damn expensive for a matchbox house. Told him buying a house is not a 5 year decision, but a 20-25 year decision - so my son, parents, in-laws need to be accommodated in it at some point. His primary issue was that he felt I'm wasting my money (even though I was putting ~50% of salary in Mutual funds). So finally decided to buy a plot so that I get the option to build a house later in my life. And make him also happy for having some diversification into real estate. I understand not everyone can do this and also the fact that I had to gave in to his pressures, but just putting forward my journey. At some point I am also looking forward to build a nice house, but no hurry right now.

I'm sure this isn't the first time your family's pressurising you for major decisions. Have you ever defied it in the past? Use the same technique.

Just buy a cheap one and get done with it. Don't buy a house to impress, but to live. If you don't have money at all. Just say no. Real Estate in tier 1 is a bad investment anyway the way they are becoming unliveable. I don't think in 5 years, people will be able to goto office in banglore.

Having been in your shoes, I would advise you this: 1. If you are married, and plan to live in the house, go for it. Rent savings would almost be equal to EMI. 2. If you are not married, it really doesn't make a good suggestion, since you can't predict your future location that easily. 3. If you are unmarried but parents are looking for a sort of retirement option, then you can go for it, but it can get hard depending on your and family's financials. 4. If they(your family) are having a FOMO regarding investing in real estate, don't go for it. It will not be worth it. Instead save in a suitable market instrument based on your timeline to buy a house. It may not cover the minutiae, but almost all advice you get will boil down to this. I can tell you my situation for reference; married, planning to stay at one place for the next 5 years at least, and wanted a retirement home for dad since he's retiring in the next 2 years, but had some funds saved up both mine and dad's.

Just ask them the below questions. In case of medical emergency, would you want me to pay your bills or keep paying house EMI? Tell them that buying a house will take away significant portion of your falatu just in EMIs, not allowing it you to save for emergency funds(like medical emergency) In case of dearth of funds, will you provide me money for EMI? In case I lose my job, who will pay EMI?

Kill the boy Jon Snow, and let the man be born! You aren't an adult if you don't act your beliefs

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Get the monopoly board

Ask them to pay for it.

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You are asking to escape the matrix which everybody is looking for

all the best for the fight, that's all I can say