I'm posting on behalf of my acquaintance (41 F ), she's divorced and live with her 14 yr old daughter. She moved out of a toxic marriage with 0 Alimony. Now she's earning 30K-35K P.M. and her expenses are around 20K. She has savings of around 4 Lakh and 5.5 L to 6L worth of gold.
Currently she's living in a rented premises and wants to buy a house. 1 BHK is costing around 17L to her but she's confused about buying it or not.
She can't take home loan as her income sources are unorganised, like she works as home tutor and tutor in different local institutes working 8 to 10 and fetch 30-35k p.m.
So corpus is around 10L
And deficit is 7 L.
Now she's confused, either she should take some loans from distant relatives or friends OR wait for 1-2 years more and save more.
Currently she's living in a rented premises and wants to buy a house. 1 BHK is costing around 17L to her but she's confused about buying it or not.
She can't take home loan as her income sources are unorganised, like she works as home tutor and tutor in different local institutes working 8 to 10 and fetch 30-35k p.m.
So corpus is around 10L
And deficit is 7 L.
Now she's confused, either she should take some loans from distant relatives or friends OR wait for 1-2 years more and save more.