Hi, me and my wife are looking to buy a 2.5 cr worth flat (under construction) in a premium locality in Delhi NCR.
a bit about my financials:
Combined, we both net a salary of 5.2 lacs per month, and additional bonus of about 12 lacs per anum, and stocks of about 50 lacs per annum
we dont keep much liquidity in hand but have about 67 lacs in MF, 6-7 lacs cash, 25 lacs in vested stocks ( and 30L unvested esops , but cant say what happens to it in future)
we already have a small home loan of about Rs. 32 lacs and paying 35 k per month in emi for the same. it was dor a house bought dor parents in hometown.
We also own a shop on hometown worth 25 lacs, just for small investment. gives hardly 7k per month rental income
we currently live in a rented apartment paying Rs. 50k per month.
the push for trying to buy home was due to rising rents and inconvenience since landlords can anytime ask to vacate.
Is 2.5 cr house too much for us given our financials? of course we will be taking a huge loan (about 1.9-2 cr)
a bit about my financials:
Combined, we both net a salary of 5.2 lacs per month, and additional bonus of about 12 lacs per anum, and stocks of about 50 lacs per annum
we dont keep much liquidity in hand but have about 67 lacs in MF, 6-7 lacs cash, 25 lacs in vested stocks ( and 30L unvested esops , but cant say what happens to it in future)
we already have a small home loan of about Rs. 32 lacs and paying 35 k per month in emi for the same. it was dor a house bought dor parents in hometown.
We also own a shop on hometown worth 25 lacs, just for small investment. gives hardly 7k per month rental income
we currently live in a rented apartment paying Rs. 50k per month.
the push for trying to buy home was due to rising rents and inconvenience since landlords can anytime ask to vacate.
Is 2.5 cr house too much for us given our financials? of course we will be taking a huge loan (about 1.9-2 cr)