WobblyBoba
WobblyBoba

House property prices in metro and semi metro cities?

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.

11mo ago
Find out if you are being paid fairly.Download Grapevine
FuzzyDonut
FuzzyDonut

I am one of these people who bought a flat in Bangalore despite a mediocre salary. In my case, parents are paying at least 75% of the cost

FluffyNugget
FluffyNugget
Plivo11mo

Loan is inevitable. Rich log toh purposely lete hai

WobblyBoba
WobblyBoba

That's true. Even people with enough savings from their parents will afford the loan. I am talking about the situation, When you are earning above avg salary monthly and you don't have any of your parents savings. How will you manage in that situation. A single source of income and largest share going to emi how will you enjoy other things like traveling to diff country, buying a 4 wheeler or thinking of starting a small business which needs a small corpus of 5-10 lakh.

GoofyJellybean
GoofyJellybean

Delay your purchase, build a corpus then you can think of buying. Other than that there is no other route 😊

SqueakyMuffin
SqueakyMuffin
Zomato11mo

Um, try asking them? Most are gonna say that their parents paid the largest share.

In fact, a lot of parents are just waiting for their child to get settled into a job. They have the money to buy the house on EMI, and since kiddo is now earning, there's peace of mind as well.

FloatingTaco
FloatingTaco

Wow wish my parents were this rich 🤑

JazzyNarwhal
JazzyNarwhal

Most are buying on home loans, personal loan for interiors, vehicle loan for car and so living on paycheck to paycheck. I noticed Mose of the home buyers have no other investments (other than mandatory provident fund) as the loan EMI is high, childrens expenses add to it too. So don't believe everything written on social media. Buying a home without at least 40% down payment is a trap.

Discover more
Curated from across