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.
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
Loan is inevitable. Rich log toh purposely lete hai
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.
Delay your purchase, build a corpus then you can think of buying. Other than that there is no other route 😊
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.
Wow wish my parents were this rich 🤑
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.
I am just relating with our parent's era how they could afford to get house and do so much with limited income at that time in 90s. But with our gen I keep seeing these exorbitant prices. Do you think and plan on making investment to buy...
We have a family income of 45L in Bangalore still don’t feel that we can afford a 3bhk in Bangalore. I’m not sure who is able to afford these houses. I calculated an emi of 75k per month for 1cr loan and I’m not okay to pay it.
Is it s...
I have been considering getting a house. For house owners or potential house owners, what factors and issues you look out for when you are/were buying?
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. ...
I'm 26 years old and married. I'm having 4 YOE. I'm thinking of buying the flat in which I'm leaving as a tenant. My current rent is 6k. The flat would cost up to 22L. I've 5L as cash flow. Should I pay it as a down payment and take a lo...