For those familiar with housing state of India. Should I spend 1 cr INR (=160k USD) for a 2Bedroom apartment. I live in Bangalore? Is it worth?
Coming from someone who just bought a house: 1. Try paying off the mortgage early 2. Do not buy a house to rent it out (2% return vs 8% interest rate) 3. Keep in mind the apartment value is going to depreciate — maybe ask yourself why do u truly need a house... 4. Factor in GST if you are the first buyer.
Buy land instead
Land is very expensive
Buy something on new airport road.. it's appreciating like crazy
while calculating emi, only consider your base pay and not ctc.
Compare EMI to rents for similar properties. That usually gives a very good idea of what makes better economic sense
Doesn't make sense to buy. - depressed market due to huge unsold inventory - water crisis which may render the city unlivable if the traffic and pollution doesn't destroy it already - inability to stay close to office if you move to a different company or your employer moves office to a new location. Plus all the other factors others have mentioned already.
Didn't make sense to buy. Renting is clearly cheaper. Apparently apartments in Bangalore are overvalued because of black money.
Dm me..my brother is a realtor in Bangalore.. can put you in touch with him .. he tries to give the best advise he can .. there are too many shit apartments in Bangalore that are getting built
Lol such conflict of interest here
Yes there is but I m sure op can make his decision by talking
Your level and total compensation
L4 55LPA