should i buy a 2.5 cr flat?

[mikeyreborn]

@hallie4 You can get a really decent flat for 1.25-1.5cr 2bhk in a premium location(delhi) however if you guys want to move towards 3bhk I would recommend that you should go for NCR location as they usually give you better option in your range.

 

[resjudicata]

@hallie4 Bhai 2.5 cr ka flat, wo bhi Delhi me. A big Nooooooooooooooooooo

 

[hallie4]

@resjudicata gurgaon to be precise

 

[merrlix]

@hallie4 No instead use the 2.5cr and buy various rental properties at prime locations so u can rent them out or turn them into hostels, that way u earn more in just a few years and your 2.5 cr home would be affordable even without taking loan

 

[puert0rican]

@hallie4 Don't.

A Flat is just good for 50 year. I know 2.5 cr may be not a huge investment for you. but still go for some land. even it's 100 sq. yard.

It'll give peace of mind to you and your upcoming generation.

 

[ludicrus]

@hallie4 I would include the money component that comes to my bank account and based on that only I would decide. It seems its 66L approximately, thats 1/4th of the house value.

If you consider your jobs are responsibly stable and both of you plan to continue your jobs go for it else settle for less.

 

[itzelmetal]

@hallie4 a) Down Payment: For a 2.5 crore flat, you might need to make a down payment of at least 20%, which would be 50 lacs. It's crucial to evaluate whether you can comfortably afford this without jeopardizing your financial stability.

b) Loan: You mentioned taking a loan of 1.9-2 crores, which is a significant debt burden. The monthly EMI payments will likely be substantial and could impact your monthly cash flow.

c) Emergency Fund: It's essential to have a robust emergency fund, covering at least 3-6 months' worth of living expenses, considering you will have a large loan to service.

d) Future Planning: Assess your long-term financial goals, such as retirement planning, education funds (if you plan to have children), and other major expenses. Buying a high-value property might divert significant resources from these goals.

 

[itzelmetal]

Which option you want choose

 

[hallie4]

@itzelmetal 4

 

[itzelmetal]

@hallie4 I also like 4th one

 

[gnobody]

@hallie4 If it's feasible to stay for rent in same or similar flat for sometime do that first , you would get to know if it's worth buying.