My total income is around 1L per month. Should I buy a flat now worth 48L on loan ? Really need suggestions on this.
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Calculate the EMI and also how much you could invest apart from loan, and consider how many loan you have and how much you could save for future. If it fits inside this circumstances, Yes you could buy now
Bro i have 0 loan to any bank or to any people.
I do SIP of 10k from past 1.5 years. After that I can easily save upto 35k per month. After utilisation of everything like food,shopping,emi. So need suggestions
Then go for it, if it fit for you.. real estate price will go 5x in 2 years , so take action now…. But try to complete EMI as soon as possible…. Life is short bro 👊 😎
Taking loans on interest is a trap. Avoid it, you've been warned.
Ok sir. Thank you for your inputs. But i do not have choice. I just want to make it on my own. Didn't ask a single penny from my parents. So first I will try to make it clear by my own. If things doesn't work then I will ask.
Then don't buy things which you can't afford. Stay on rent.
If are expecting a house in another village/town in inheritance, then yes.
If you are expecting an inheritance in the same city, then no.
If you are living on rent and don't own any house anywhere then yes . But if your work experience is less than 2, then no.
I guess I met your expectations. From birth living in a rented house.
Exp: 3 years. So yeah ! Thanks for your feedback brother. Have a great day ahead ❣️
How are you getting 1L post tax in Infosys kolkata as an associate consultant?
What's your tech stack and yoe?
I have other business as well that I do in my free time.
Can you reveal your business, if it's okay 1L in Kolkata is a lot! You can save about 70-80 percent of your income there
Max 35 loan to income ratio will be provided by bank. Of course, we don't know your lifestyle, monthly costs etc.. and whether you plan to move here at all so it is too subjective to provide any proper advice here
That's 35% so that you don't struggle to live monthly..