24 M, over 1Cr net worth, looking to buy a house for mom. Suggestions?
Hey people, 24 M here. Have been employed for 3 years. IIT Graduate. Amassed around 1 Cr in net worth - would you recommend buying a 2 BHK house at this age? The cost of house is around 70L, ofcourse I intend to take a loan.
New monthly income around 2.4L (made a switch recently). This is ignoring a decent yearly bonus.
Le le bhai, maa ke liye it a nahi sochte. Things will fall in place
😄
Wahi soch ke le rha ♥️
Y was there a need of u tell about IIT.. please don't show off.. if u r serious about buying home then ask for suggestions....
Umm.. mann kiya bol diya bhai. It’s not that deep.
avg tier 3 college tcs bhediya being jealous of someone successful 🙏🏽🤣
Its a no brainer. Just don't buy out by cash. Take loan. Either home loan or loan against investments( Equity, MF or FD), whichever has greater ROI. This will ensure your investments grow which can be used for house maintenance
Just curious, why is it better to take a loan and buy a home?
How were you able to amass this much on Oracles campus placement salary? Any tips bro?
Oracle pays quite well my friend. Even for lateral hires - check leetcode for figures. Just make sure to choose OCI/OHAI/DB and other orgs
I am an IIT graduate as well and this net worth can only be possible because of Oracle's RSUs. Tier 1 graduates get about 105 RSUs per year after tax. That's about 22L/year apart from salary. He/she might have bonus stocks as well. The salary is quite mediocre, I get about 1.3L per month after taxes
Ofcourse.. what is stopping you? A decent house is a must
U graduated at 21 ?
Yes
How old were you when u started btech
Bro, you are worrying abt buying a house with NW of 1cr and monthly of 2.4. I got one on loan when my monthly was abt 45-50k. Don't think abt it if you need it for residency. Only for investment purpose, u should think twice bfr getting a house. And 70L is a modest amount for a 2bhk at least in Delhi NCR. So no worries
I’m not buying in Delhi NCR - taking it in a tier-2 city in my hometown. But thanks for the advice.
So if you are buying a house for your mom go for it without thinking the only advice would be to not buy more than 1.5 of your net worth. Go for a home loan but try to be net debt free in the next 2-3 years at max.. if you go beyond your current net worth.. early in your
Yes. I’m keeping the loan amount 0.7-0.8 of how much money I have at the moment.
Oci? Bro
I’m leaving Oracle in a few days.
Hi, wanted to know how is the work pressure in Oracle? How many hours are you expected to work in general
The offer letter tells you 40 hr weeks, how many you actually need to put is on team and your own calibre
How many hours did do you?
