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I have strong reasons(at least in my case) to buy property in India compared to USA. 1) I hate loans as once I got education loan and I went sleepless(literally). I'm someone who is blessed to sleep whatever problem I have, but that one time I had few sleepless nights. Also, I was laid off from my first job, which made me realize about jumping across F1 to H1, and going back to F1(before Oct 1) so that I can be on OPT. This H1B is big nightmare. 2) I won't BS saying I will move back to India in next 3 years (but definitely don't see myself dying/retiring here) or my kids going to high school here. My dream is to start my own company, live 6 months here, live 6 months in Singapore or few months in another country each year. I know what you are thinking, but it's just my dream. 3) I have had issues with my parents for last 3 years (although I'm not married yet), I prefer to have my own space in India ( We are patching up now). Anyways my parents don't live with me in USA, so a rental space is fine here. But in India, I always have to be dependent on their space. I don't like the idea of inheriting. When I go there sometimes I prefer to have my own space to work remotely from India. Also the room I used while growing up is now completely filled with stuff by my parents. I literally have a small table and hard to work. When I get married I prefer to have my own space for me and my wife for sure, It's my life time dream to have my own private space. 4) I strongly feel your citizenship is where you have ultimate freedom( Freedom to be jobless for few months, freedom to start your own company, freedom to travel for 6 months without being at employer's mercy). So buying in India makes complete sense. 5) With 100K USD, I can't make down payment for a property in bay area. May be in Texas? Now my question is, a) Right now 1 USD = 78.95 INR. I can move few dollars less to India so that it equates to XX lakhs INR and buy a property. Will 1 USD cross 80 INR soon? If so when? ( I don't follow market closely) b) I would like to involve bank by availing loan, so that it adds a layer of security that the property is not fake (Moreover I'm buying from a close friend whom I trust a lot. Just worried if anything had happened bad in the past before my friend bought that property). I heard one of my friend was paying more interest despite interest rates went down, and bank never notified them. Is there anything I should be aware of while getting loan from banks in India? c) Any other pointers or advice from folks who bought property in India. Tldr: I'm strong I want to buy property in India, and not in USA. Pointers to look for pitfalls as I'm first time buyer. #mortgage #housing #India #realestate
Commenting for reachability
It will go 80+ soon if fed % hike ponzi trend continues. Investors are moving out, $ is moving outward.
Doesn't that mean $ will become weak?
Buy property where you are planning to live. If you plan to continue to work in USA the. Buy property here and enjoy. If you want to move to India then buy property in India.
By buying a property in India, and if you calculate your assets in $$, you need to make sure your property value increases > INR drops against the USD.
Pakistan: 215 Srilanka: 360 India: 80 How long before India reaches 100? Not long
Going to 100
Lol. When?
2025