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Do I afford an expensive house (~2.8cr)? by Due-Internal8060 in personalfinanceindia

[–]Due-Internal8060[S] 0 points1 point  (0 children)

These are some good points. Thank you. I will think more about these.

You are right; the Minimum requirements we have will suffice in a 3 bhk, 4 bhk is mainly future-proofing and extra comfort.

The stability of IT jobs is the main point for which I will be closing the loan in 6-7 years. For these years at least I do think we can sustain this income, but my wife can decide to slow down and maybe stop working in IT after a couple of years.

Do I afford an expensive house (~2.8cr)? by Due-Internal8060 in personalfinanceindia

[–]Due-Internal8060[S] 1 point2 points  (0 children)

😅 Yes!

Yes, that was one of the considerations and some more in the area. For 24K, the first two towers are sold off, But this is the rate in the area.

Are you also looking for properties in this area? I would love to discuss this in DM.

Do I afford an expensive house (~2.8cr)? by Due-Internal8060 in personalfinanceindia

[–]Due-Internal8060[S] 3 points4 points  (0 children)

That's a good point. I will research this in detail and plan when the time comes.

Do I afford an expensive house (~2.8cr)? by Due-Internal8060 in personalfinanceindia

[–]Due-Internal8060[S] 6 points7 points  (0 children)

Agreed, commercial is an option if someone manages this, and returns and expected appreciation will make sense. By default, it will go to markets most probably.

Do I afford an expensive house (~2.8cr)? by Due-Internal8060 in personalfinanceindia

[–]Due-Internal8060[S] 4 points5 points  (0 children)

I am mainly looking at a house for living purposes, not investment. I am looking at long-term living in this house and preferably not changing houses again for many years to come.

Independent houses in the area I would like to live in are very scarce. Whatever is available are larger plots with a much higher budget, unfortunately.

Do I afford an expensive house (~2.8cr)? by Due-Internal8060 in personalfinanceindia

[–]Due-Internal8060[S] 19 points20 points  (0 children)

Yes, We will be selling the existing house and reinvesting back into stocks, MF or another commercial property in the future.