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bad idea
by Anurag Shrivastava on Feb 18, 2007 01:36 PM

1) Rental you get is usually 30-40% of the EMI you would pay for the house. The rest is sunk cost.
2) When you buy a house , nearly 20% cost goes into brokerage, registration and general improvement. You don't recover through capital appreciation for the next 2 years.
3) Purchasing property is a good idea when the market is down and it usually happens in cycles. In the current market only the builder and the banking industry that gains.
You buy and you are the sucker.

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The above message is part of the Discussion Board:
Why you should rent 2nd house