Okay let's settle this!
I've been seeing a lot of discussion around buying a house vs renting one. Recently Nikhil Kamath also said in a podcast/interview that he has no plans of buying his own house (infact it doesn't make sense to him why anyone would buy one). What are your options on this? Poll & comment.
Personally for me, I see having your own house as a means of investment & security.
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TBH Nikhil Kamath and we are a different breed, with his amount of net worth and assets he has already built he doesn't has to worry about loosing job or not having a place to live, he already has a significant net worth which can sustain his lifestyle for years even if income stops tomorrow
Plus I take this advice with a grain of salt not buying house will leave huge amount of liquidity for you which you will definitely invest in share market in one way or another benefitting Zerodha
So true.. advice from rich and successful people must always be taken with caution. Their world is different from a working person.
Just like in an office, we should agree with what ever nonsense they say and do what is best for us.
Yeah totally true, my grandfather bought the house for around 10,000 rs and now the same house costs around 4-6 Cr. Now back in the mind I don't have any tension around where i have to live or should I have to buy something.
Saying my personal experience, start SIP aggressively as early as possible and dont get into buying the house too early its not investment..
Even with 12% cagr for 20-25 years, you will have sufficient amount to buy a new house ( even house prices appreciated that time) with cash only you will have only from SIP and also rent you would have paid will be recovered too from that amount. Enjoy flexibility on location, jobs till that time..
You definitely need to buy a house at some point in time but dont into the emi thing without any cash or assets in hand.
I need a place in the world where after everything is fucked, I can still go back to. If I rent, a small inconvenience and I am thrown out. But if I buy one, I know it's going to be my safe place no matter what.
There are some decision which don't have a answer as being right or wrong. It is purely what you want. For me it is buying a house.
If life is only a balance sheet then one should not get married or get into a relationship
From a financial perspective, it never makes sense to buy a house on an emi for 20-30 years. But it's not just about financial though, buying a house is an emotional decision. So, normal decision won't make sense. Yet we can rationalize based on our income and job the house's cost and locality
If Investment is the reason, you'll regret buying one. Cause it's not going to outperform your share market returns or on some cases FD returns.
If it is sense of your security you'll enjoy every bit of it.. daily whenever you come to your home you'll feel good to have your own place ..
Don't mix it!!