2 BHK for 2 Cr in Bangalore
Is it wise to buy 2BHK for 2Cr in Bangalore? I have been looking for flat in Bangalore and no 2BHK from renowned builder is less than 1.7 Cr and + Stamp Duty + Registration + Interior + Commission (somehwere)
3BHK is going for 2.65Cr.
On top of it, there is AI threat is looming.
Should I wait for the AI hype gets settled down or Bangalore will become costly month by month?
One interview, 1000+ job opportunities
Take a 10-min AI interview to qualify for numerous real jobs auto-matched to your profile 🔑
I made the mistake of buying a home.
I have a nice home, good builder, and a decent location. I thoroughly enjoy staying there but I would still consider it a mistake.
Buying gives you emotional support but mathematically it's a poor trade.
You are bound to the city, unless you are a Kannadiga and want to live here forever.
With hybrid policies you definitely need 3bhk for future proofing of guests and kids. But 2.5 cr for 3bhk is a loot.
I would suggest go for a safe commercial property in BLR or any other city where you have people on ground.
Stay on rent, be flexible.
Actually, I have a commercial property in tier-2 city and I have to sell the property if I am buying the flat in BLR.
I know its a poor trade but now my friends, relatives and colleagues of my age group are living in their own Flat.
This puts a social pressure, and wife is bit emotional about having her own home for sure due to social pressure.
If i don’t buy then proving that its a bad trade becomes a headache.
If I buy then it will be to show off that I have given a home to my wife. But it is going to make me poor in future.
I get your situation. It seems universal.
I would say talk to your wife. Put down your finances on a paper/excel.
All your savings, earnings and offset with house costs etc etc.
If she agrees to a very frugal lifestyle for the next few years and maths workout then it's fine.
Else you will waste your good years chasing some illusion.
Good luck.
It's not worth it. where are you buying?
If you are going to buy a flat in Bangalore anyways in the future, then buy now. Property prices rarely go down. Otherwise if you can
The current property prices reflect five years worth appreciation in advance. If you are financially very sound and have spouse earning equally well then go ahead. If you don't have the runway for 6 months in case of job loss and your job is the only source of income then better to wait. The other option is to buy RE in tier 2 city, wait for the property prices to settle a bit in Blr and use thr proceeds by selling that RE to buy in Blr.
I had invested in RE in tier 2 city now that price is not going up, but RE in BLR is exponentially growing.
After buying two flats in Bangalore, I've gained some valuable insights that I'd like to share. My first purchase was a new 2BHK flat 8 years ago from a small builder, which had all the amenities. However, my family has grown since then, and I recently bought a 3BHK for ₹90L (all-inclusive) from another small builder in a compact society with basic amenities.
Here are my key takeaways:
- Owning a home is a unique joy: Don't overthink it; buy a house when you're ready.
- Amenities aren't everything: Large builders offer many amenities, but you'll likely use them less over time, and the high maintenance costs can be a burden.
- 3BHK is a sweet spot: Unless you're certain you won't have more than one child, a 3BHK is generally a better choice. It provides ample space for a growing family.
- Don't stress about EMIs: With proper planning, you can pay off your home loan in 5-6 years.
These are lessons learned from my personal experience, and I hope they help others making similar decisions
Very nice. 90L for a city like Bangalore looks like a steal. Also depends on the area/connectiviy and the carpet area. If it's a 800/900 carpet area then it's just a bigger 2 bhk
Dude ... honestly speaking .... if you are young ...say 20s ... DO NOT buy house priced more than 3 times of your annual in-hand salary. Doesn't make any financial sense. Whatever deposit you have secured .... invest it in long term .... your rent in same flat will be much less than the monthly.mortgage ...for good 20-25 years ... make the delta as monthly investment. Check at end of 20-25 years (your so called mortgage tenure) you will be much better off. This indian mentality of buying a house as a basic standing in society is killing so many. Just to maintain that status ... new couples go for heavy homemloams and commit to heavy emi for good part of their life.
Imagine if you have saved 20Lk now as deposit for your mortgage .... 1.5 cr loan .... roughly means 1.5 lk monthly for next 20-25 years.
Then couples.delay child decisions ..... in late 30s spent lot of money on fertility clinics (the number in IT is actually mor ethan 40% of such couples) and god-forbid if they get pink-slip .... have high BP and strokes ..... and all this for what? Just to fit in so called norm.
If you are loaded you can buy whatever you wish .... but if you are buying from your own money ... plz stick to 3-4times in hand plz
I am 38 and amount is lower than 3 times of my annual salary
Well ....then you might have good amount saved to pay as deposit ....aka .. your EMI will be much less .... if your plan works out to get rid of liability (loan) in 10 years or say by time you are 50 , then it makes economic sense buying. Beware of complexity of kids higher education (which may come around d that time).
Good luck!
I bought a 2bhk flat 5 months back for around 1.2CR ( including everything) from a not famous builder. it is my first flat and i am very early in my career ( age is 26). I bought a ready to move in since under construction is a risky bet to take even if it is a big builder. Also, i dont think i will move out of blr in next 5 years, even if i do rent business is a big scam in blr. Owners maintain their whole flat on tenants money( 1 month painting charge and other tsndom cuts which is a loot).
If the emi is less than 30-35% of your monthly, i would suggest to just get it.
Paying 2 cr for an under construction 2bhk for a grade A builder looks like a loot tbh. Buy a 2nd hand or maybe a not so famous builder.
Congratulations! That a great achievement at this age honestly.
How did you planned to buy this property? I mean your financial plan, like Down Payments and EMIs and how did you plan for any emergency?
Go to outskirts and buy. This is what I did when I didn't have a good budget
In BLR, commuting from outskirt is next level headache that too everyday. How long does it take to travel to office daily?
45 minutes one way for me. What about you?
